Momenta Pharmaceuticals (NASDAQ:MNTA) Share Price Passes Above Two Hundred Day Moving Average of $14.27

Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.27 and traded as high as $20.68. Momenta Pharmaceuticals shares last traded at $20.43, with a volume of 92,328 shares.

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $29.00 price target on shares of Momenta Pharmaceuticals in a research report on Thursday, October 24th. Wells Fargo & Co started coverage on shares of Momenta Pharmaceuticals in a report on Wednesday, November 6th. They set an “outperform” rating on the stock. Piper Jaffray Companies set a $35.00 price objective on shares of Momenta Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised shares of Momenta Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $30.00 price objective on the stock in a report on Tuesday. Finally, ValuEngine lowered shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Momenta Pharmaceuticals has a consensus rating of “Buy” and an average target price of $24.27.

The company has a market capitalization of $1.88 billion, a PE ratio of -13.92 and a beta of 2.11. The firm’s fifty day simple moving average is $18.59 and its 200 day simple moving average is $14.45.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.59) 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 business had revenue of $6.40 million during the quarter, compared to analysts’ expectations of $5.24 million. During the same period in the previous year, the company posted ($0.65) earnings per share. Momenta Pharmaceuticals’s revenue for the quarter was down 57.0% compared to the same quarter last year. As a group, equities analysts forecast that Momenta Pharmaceuticals, Inc. will post -2.66 EPS for the current fiscal year.

In other Momenta Pharmaceuticals news, SVP Santiago Arroyo sold 6,318 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $13.83, for a total value of $87,377.94. Following the sale, the senior vice president now directly owns 33,272 shares of the company’s stock, valued at $460,151.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michelle Robertson sold 2,936 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $13.83, for a total transaction of $40,604.88. Following the completion of the sale, the chief financial officer now directly owns 16,551 shares in the company, valued at $228,900.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,475 shares of company stock worth $2,851,495. 3.40% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of MNTA. Point72 Asset Management L.P. boosted its stake in shares of Momenta Pharmaceuticals by 1,147.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,581,229 shares of the biotechnology company’s stock worth $33,453,000 after acquiring an additional 2,374,229 shares in the last quarter. Great Point Partners LLC increased its holdings in shares of Momenta Pharmaceuticals by 192.3% during the 3rd quarter. Great Point Partners LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $12,960,000 after buying an additional 657,936 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Momenta Pharmaceuticals by 2.9% during the 2nd quarter. BlackRock Inc. now owns 15,606,505 shares of the biotechnology company’s stock worth $194,302,000 after buying an additional 438,679 shares during the last quarter. Morgan Stanley increased its holdings in shares of Momenta Pharmaceuticals by 709.7% during the 2nd quarter. Morgan Stanley now owns 460,537 shares of the biotechnology company’s stock worth $5,733,000 after buying an additional 403,661 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Momenta Pharmaceuticals during the 2nd quarter worth approximately $4,751,000. 96.94% of the stock is currently owned by institutional investors and hedge funds.

About Momenta Pharmaceuticals (NASDAQ:MNTA)

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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