Momenta Pharmaceuticals (NASDAQ:MNTA) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a strong sell rating to a sell rating in a research note released on Wednesday morning, BidAskClub reports.

MNTA has been the topic of a number of other reports. Cantor Fitzgerald set a $16.00 price objective on Momenta Pharmaceuticals and gave the company a hold rating in a report on Thursday, May 2nd. ValuEngine cut Momenta Pharmaceuticals from a hold rating to a sell rating in a report on Friday, July 19th. Finally, Zacks Investment Research cut Momenta Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $22.23.

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

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

In related news, CEO Craig A. Wheeler sold 1,772 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $14.13, for a total transaction of $25,038.36. Following the transaction, the chief executive officer now directly owns 17,158 shares of the company’s stock, valued at approximately $242,442.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony M. Manning sold 39,433 shares of Momenta Pharmaceuticals stock in a transaction that occurred on 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 $90,740. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,581 shares of company stock worth $625,896. 3.40% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Swiss National Bank boosted its stake in shares of Momenta Pharmaceuticals by 4.8% in the second quarter. Swiss National Bank now owns 174,100 shares of the biotechnology company’s stock worth $2,168,000 after acquiring an additional 7,900 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Momenta Pharmaceuticals by 43.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 64,000 shares of the biotechnology company’s stock worth $791,000 after acquiring an additional 19,490 shares during the period. Tocqueville Asset Management L.P. boosted its stake in shares of Momenta Pharmaceuticals by 6.1% in the second quarter. Tocqueville Asset Management L.P. now owns 134,149 shares of the biotechnology company’s stock worth $1,670,000 after acquiring an additional 7,750 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Momenta Pharmaceuticals by 68.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the biotechnology company’s stock worth $95,000 after acquiring an additional 3,088 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Momenta Pharmaceuticals in the second quarter worth about $187,000. 98.23% of the stock is currently owned by institutional investors and hedge funds.

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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