Momenta Pharmaceuticals (NASDAQ:MNTA) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a sell rating to a hold rating in a report published on Friday, March 29th, BidAskClub reports.

A number of other equities research analysts have also commented on MNTA. ValuEngine lowered shares of Momenta Pharmaceuticals from a buy rating to a hold rating in a report on Monday, December 3rd. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a hold rating to a buy rating and set a $13.00 price target for the company in a report on Thursday, January 3rd. JPMorgan Chase & Co. lowered shares of Momenta Pharmaceuticals from an overweight rating to a neutral rating in a report on Friday, January 4th. Stifel Nicolaus restated a buy rating on shares of Momenta Pharmaceuticals in a report on Tuesday, January 8th. Finally, Cantor Fitzgerald restated a hold rating and issued a $16.00 price objective on shares of Momenta Pharmaceuticals in a report on Friday, February 22nd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $22.03.

MNTA stock traded up $0.20 during midday trading on Friday, reaching $13.89. The company had a trading volume of 357,420 shares, compared to its average volume of 464,451. Momenta Pharmaceuticals has a 1 year low of $9.55 and a 1 year high of $32.20. The stock has a market cap of $1.37 billion, a PE ratio of -6.84 and a beta of 2.23.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Friday, February 22nd. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.39. Momenta Pharmaceuticals had a negative net margin of 232.92% and a negative return on equity of 47.74%. The company had revenue of $42.80 million during the quarter, compared to analysts’ expectations of $17.11 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s revenue was down 33.7% on a year-over-year basis. On average, sell-side analysts forecast that Momenta Pharmaceuticals will post -1.72 earnings per share for the current fiscal year.

In related news, CEO Craig A. Wheeler sold 2,601 shares of the stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $11.76, for a total transaction of $30,587.76. Following the sale, the chief executive officer now directly owns 186,174 shares of the company’s stock, valued at approximately $2,189,406.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce Downey sold 13,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $14.51, for a total transaction of $188,630.00. Following the sale, the director now directly owns 41,234 shares in the company, valued at $598,305.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,393 shares of company stock valued at $1,342,719. 3.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its holdings in shares of Momenta Pharmaceuticals by 2.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 36,800 shares of the biotechnology company’s stock valued at $535,000 after acquiring an additional 796 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Momenta Pharmaceuticals by 3.4% during the 1st quarter. State of Alaska Department of Revenue now owns 33,201 shares of the biotechnology company’s stock valued at $482,000 after acquiring an additional 1,100 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Momenta Pharmaceuticals by 26.7% during the 4th quarter. Geode Capital Management LLC now owns 1,059,114 shares of the biotechnology company’s stock valued at $11,692,000 after acquiring an additional 223,085 shares during the last quarter. Norges Bank purchased a new position in shares of Momenta Pharmaceuticals in the fourth quarter worth approximately $19,673,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Momenta Pharmaceuticals by 10.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,118,942 shares of the biotechnology company’s stock worth $12,353,000 after buying an additional 103,474 shares during the last quarter. 96.85% of the stock is currently owned by hedge funds and other institutional investors.

Momenta Pharmaceuticals Company Profile

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases in the United States. Its novel therapeutic programs include M281, a fully-human anti-neonatal Fc receptor (FcRn), aglycosylated immunoglobulin G (IgG1), and monoclonal antibody to reduce circulating IgG antibodies by blocking endogenous IgG recycling via FcRn; M230, a recombinant trivalent human IgG1 Fc multimer containing three IgG Fc regions joined to maximize activity; and M254, a hyper-sialylated immunoglobulin to treat various inflammatory diseases, including idiopathic thrombocytopenic purpura and chronic inflammatory demyelinating polyneuropathy.

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Analyst Recommendations for Momenta Pharmaceuticals (NASDAQ:MNTA)

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