Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) Receives $24.53 Consensus Price Target from Analysts

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) has been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $24.53.

Several brokerages have recently issued reports on MNTA. SunTrust Banks began coverage on Momenta Pharmaceuticals in a research note on Tuesday, November 12th. They set a “buy” rating and a $29.00 price target on the stock. ValuEngine raised Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BidaskClub raised Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 31st. Piper Jaffray Companies set a $35.00 price target on Momenta Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Wells Fargo & Co began coverage on Momenta Pharmaceuticals in a research note on Wednesday, November 6th. They set an “outperform” rating on the stock.

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In other Momenta Pharmaceuticals news, CEO Craig A. Wheeler sold 1,772 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.49, for a total value of $29,220.28. Following the transaction, the chief executive officer now owns 9,283 shares of the company’s stock, valued at $153,076.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michelle Robertson sold 2,936 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $13.83, for a total value of $40,604.88. Following the completion of the transaction, the chief financial officer now directly owns 16,551 shares in the company, valued at approximately $228,900.33. The disclosure for this sale can be found here. Insiders sold 77,262 shares of company stock worth $1,172,492 in the last three months. Insiders own 3.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MNTA. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Momenta Pharmaceuticals by 68.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 3,088 shares during the period. Algert Global LLC acquired a new position in Momenta Pharmaceuticals in the second quarter valued at about $143,000. Bank of Montreal Can lifted its stake in Momenta Pharmaceuticals by 298.3% in the second quarter. Bank of Montreal Can now owns 11,771 shares of the biotechnology company’s stock valued at $146,000 after buying an additional 8,816 shares during the period. CWM Advisors LLC lifted its stake in Momenta Pharmaceuticals by 17.2% in the second quarter. CWM Advisors LLC now owns 13,780 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 2,020 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new position in Momenta Pharmaceuticals in the second quarter valued at about $187,000. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MNTA traded down $0.02 on Thursday, reaching $16.03. 554,900 shares of the stock traded hands, compared to its average volume of 539,991. Momenta Pharmaceuticals has a 12 month low of $9.51 and a 12 month high of $16.90. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -7.90 and a beta of 2.07. The stock’s 50-day moving average price is $14.46 and its 200-day moving average price is $12.87.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.09). Momenta Pharmaceuticals had a negative net margin of 361.66% and a negative return on equity of 59.82%. The firm had revenue of $6.40 million for the quarter, compared to analyst estimates of $5.24 million. During the same period last year, the company earned ($0.65) EPS. The company’s revenue was down 57.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Momenta Pharmaceuticals will post -2.58 earnings per share for the current year.

About Momenta Pharmaceuticals

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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