Momenta Pharmaceuticals (NASDAQ:MNTA) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a sell rating to a hold rating in a research note released on Thursday, ValuEngine reports.

Several other research firms have also recently commented on MNTA. BidaskClub upgraded Momenta Pharmaceuticals from a strong sell rating to a sell rating in a research report on Wednesday. Cantor Fitzgerald set a $16.00 target price on Momenta Pharmaceuticals and gave the stock a hold rating in a research report on Thursday, May 2nd. Finally, Zacks Investment Research cut Momenta Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $22.23.

Shares of NASDAQ MNTA traded up $0.21 during mid-day trading on Thursday, hitting $11.69. The company had a trading volume of 1,088,936 shares, compared to its average volume of 468,930. Momenta Pharmaceuticals has a 1 year low of $9.51 and a 1 year high of $29.75. The business’s 50-day simple moving average is $11.43. The firm has a market capitalization of $1.11 billion, a P/E ratio of -5.76 and a beta of 2.10.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its earnings results on Friday, August 2nd. The biotechnology company reported ($1.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.74). Momenta Pharmaceuticals had a negative return on equity of 43.98% and a negative net margin of 231.49%. The business had revenue of $5.18 million for the quarter, compared to analysts’ expectations of $9.20 million. During the same quarter in the previous year, the firm earned ($0.91) earnings per share. Momenta Pharmaceuticals’s quarterly revenue was down 60.2% compared to the same quarter last year. Sell-side analysts forecast that Momenta Pharmaceuticals will post -1.79 earnings per share for the current year.

In other news, insider Anthony M. Manning sold 39,433 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $13.00, for a total value of $512,629.00. Following the completion of the transaction, the insider now directly owns 6,980 shares in the company, valued at approximately $90,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig A. Wheeler sold 1,772 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $14.13, for a total value of $25,038.36. Following the completion of the transaction, the chief executive officer now owns 17,158 shares of the company’s stock, valued at $242,442.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,581 shares of company stock valued at $625,896. 3.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in shares of Momenta Pharmaceuticals by 2.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 36,800 shares of the biotechnology company’s stock worth $535,000 after purchasing an additional 796 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Momenta Pharmaceuticals by 2.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,809 shares of the biotechnology company’s stock worth $491,000 after purchasing an additional 891 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Momenta Pharmaceuticals by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 152,967 shares of the biotechnology company’s stock worth $1,904,000 after purchasing an additional 1,003 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Momenta Pharmaceuticals by 3.4% in the 1st quarter. State of Alaska Department of Revenue now owns 33,201 shares of the biotechnology company’s stock worth $482,000 after purchasing an additional 1,100 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of Momenta Pharmaceuticals by 1.1% in the 1st quarter. New York State Teachers Retirement System now owns 119,374 shares of the biotechnology company’s stock worth $1,735,000 after purchasing an additional 1,312 shares in the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.

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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