ValuEngine Lowers Momenta Pharmaceuticals (MNTA) to Buy

ValuEngine downgraded shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

MNTA has been the subject of several other research reports. Cantor Fitzgerald set a $24.00 target price on shares of Momenta Pharmaceuticals and gave the stock a hold rating in a report on Wednesday, October 10th. BidaskClub cut shares of Momenta Pharmaceuticals from a strong-buy rating to a buy rating in a report on Thursday, October 4th. Zacks Investment Research raised shares of Momenta Pharmaceuticals from a hold rating to a buy rating and set a $18.00 target price for the company in a report on Monday. Finally, Stifel Nicolaus reissued a buy rating and set a $40.00 target price on shares of Momenta Pharmaceuticals in a report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $24.25.

Shares of Momenta Pharmaceuticals stock traded down $0.24 during trading on Tuesday, hitting $14.50. 4,840 shares of the company’s stock were exchanged, compared to its average volume of 985,964. Momenta Pharmaceuticals has a 52-week low of $11.85 and a 52-week high of $32.20. The stock has a market cap of $1.18 billion, a PE ratio of -12.06 and a beta of 1.75.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its earnings results on Thursday, August 9th. The biotechnology company reported ($0.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.50). Momenta Pharmaceuticals had a negative return on equity of 40.55% and a negative net margin of 128.49%. The business had revenue of $13.00 million for the quarter, compared to analysts’ expectations of $15.83 million. During the same period last year, the business earned ($0.50) EPS. The company’s revenue for the quarter was down 44.9% on a year-over-year basis. On average, analysts predict that Momenta Pharmaceuticals will post -2.3 earnings per share for the current fiscal year.

In other news, CEO Craig A. Wheeler sold 1,773 shares of Momenta Pharmaceuticals stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $26.06, for a total value of $46,204.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Elizabeth Stoner sold 4,152 shares of Momenta Pharmaceuticals stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $27.33, for a total transaction of $113,474.16. Following the completion of the sale, the director now owns 33,791 shares in the company, valued at approximately $923,508.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,589 shares of company stock worth $345,785. 4.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. acquired a new position in Momenta Pharmaceuticals during the second quarter worth about $541,000. PNC Financial Services Group Inc. boosted its position in Momenta Pharmaceuticals by 4,107.2% during the second quarter. PNC Financial Services Group Inc. now owns 67,526 shares of the biotechnology company’s stock worth $1,381,000 after acquiring an additional 65,921 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Momenta Pharmaceuticals during the second quarter worth about $336,000. UBS Group AG boosted its position in Momenta Pharmaceuticals by 3,992.6% during the first quarter. UBS Group AG now owns 90,201 shares of the biotechnology company’s stock worth $1,637,000 after acquiring an additional 87,997 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Momenta Pharmaceuticals by 6.7% during the second quarter. Legal & General Group Plc now owns 169,866 shares of the biotechnology company’s stock worth $3,445,000 after acquiring an additional 10,593 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Momenta Pharmaceuticals Company Profile

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.

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