Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) rose 5.4% during mid-day trading on Friday . The stock traded as high as $18.85 and last traded at $18.50. Approximately 965,651 shares changed hands during trading, an increase of 3% from the average daily volume of 935,222 shares. The stock had previously closed at $17.55.
MNTA has been the subject of several recent research reports. Zacks Investment Research upgraded Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $18.00 price target on shares of Momenta Pharmaceuticals in a report on Tuesday, January 30th. BidaskClub downgraded Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Finally, ValuEngine upgraded Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.33.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.12. The business had revenue of $64.60 million during the quarter, compared to the consensus estimate of $66.59 million. Momenta Pharmaceuticals had a negative return on equity of 23.62% and a negative net margin of 63.43%. Momenta Pharmaceuticals’s revenue was up 88.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. equities analysts predict that Momenta Pharmaceuticals, Inc. will post -1.27 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in MNTA. Tocqueville Asset Management L.P. grew its stake in Momenta Pharmaceuticals by 243.6% in the 4th quarter. Tocqueville Asset Management L.P. now owns 963,784 shares of the biotechnology company’s stock valued at $13,445,000 after purchasing an additional 683,296 shares during the period. Renaissance Technologies LLC grew its stake in Momenta Pharmaceuticals by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,583,000 shares of the biotechnology company’s stock valued at $22,083,000 after purchasing an additional 134,500 shares during the period. Sectoral Asset Management Inc grew its stake in Momenta Pharmaceuticals by 34.3% in the 4th quarter. Sectoral Asset Management Inc now owns 500,298 shares of the biotechnology company’s stock valued at $6,979,000 after purchasing an additional 127,799 shares during the period. Arizona State Retirement System grew its stake in Momenta Pharmaceuticals by 224.8% in the 4th quarter. Arizona State Retirement System now owns 128,388 shares of the biotechnology company’s stock valued at $1,791,000 after purchasing an additional 88,854 shares during the period. Finally, BlackRock Inc. grew its stake in Momenta Pharmaceuticals by 0.8% in the 4th quarter. BlackRock Inc. now owns 10,473,316 shares of the biotechnology company’s stock valued at $146,105,000 after purchasing an additional 82,691 shares during the period. Hedge funds and other institutional investors own 94.88% of the company’s stock.
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About Momenta Pharmaceuticals
Momenta Pharmaceuticals, Inc is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).
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