BidaskClub Upgrades Momenta Pharmaceuticals (NASDAQ:MNTA) to Strong-Buy

Momenta Pharmaceuticals (NASDAQ:MNTA) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday, BidAskClub reports.

A number of other analysts have also weighed in on MNTA. Stifel Nicolaus restated a “buy” rating and set a $29.00 target price on shares of Momenta Pharmaceuticals in a report on Thursday, October 24th. Piper Jaffray Companies set a $35.00 target price on Momenta Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, September 17th. HC Wainwright started coverage on Momenta Pharmaceuticals in a report on Wednesday, September 25th. They set a “buy” rating and a $24.00 target price for the company. SunTrust Banks started coverage on Momenta Pharmaceuticals in a report on Tuesday, November 12th. They set a “buy” rating and a $29.00 target price for the company. Finally, Wells Fargo & Co started coverage on Momenta Pharmaceuticals in a report on Wednesday, November 6th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $23.45.

Shares of NASDAQ MNTA traded down $0.23 during trading hours on Wednesday, reaching $16.60. The stock had a trading volume of 16,526 shares, compared to its average volume of 742,120. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -8.19 and a beta of 2.07. The business’s fifty day moving average price is $16.12 and its two-hundred day moving average price is $13.24. Momenta Pharmaceuticals has a 52-week low of $9.51 and a 52-week high of $18.39.

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

In other news, insider Anthony M. Manning sold 6,365 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $13.83, for a total transaction of $88,027.95. Following the transaction, the insider now directly owns 20,603 shares of the company’s stock, valued at $284,939.49. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Santiago Arroyo sold 6,318 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $13.83, for a total value of $87,377.94. Following the transaction, the senior vice president now directly owns 33,272 shares in the company, valued at $460,151.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,262 shares of company stock worth $2,862,158. Insiders own 3.40% of the company’s stock.

Several hedge funds have recently modified their holdings of MNTA. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Momenta Pharmaceuticals by 68.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 3,088 shares in the last quarter. Algert Global LLC acquired a new position in shares of Momenta Pharmaceuticals in the 2nd quarter valued at $143,000. Bank of Montreal Can increased its position in shares of Momenta Pharmaceuticals by 298.3% in the 2nd quarter. Bank of Montreal Can now owns 11,771 shares of the biotechnology company’s stock valued at $146,000 after acquiring an additional 8,816 shares during the period. Trexquant Investment LP acquired a new position in shares of Momenta Pharmaceuticals in the 2nd quarter valued at $198,000. Finally, Laurion Capital Management LP acquired a new position in shares of Momenta Pharmaceuticals in the 2nd quarter valued at $322,000. 97.04% of the stock is currently owned by institutional investors and hedge funds.

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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