Momenta Pharmaceuticals (MNTA) Lowered to Hold at BidaskClub

Momenta Pharmaceuticals (NASDAQ:MNTA) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other equities research analysts have also recently issued reports about the company. Barclays reiterated an “equal weight” rating and issued a $16.00 price objective (down from $17.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, October 4th. Zacks Investment Research cut Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday. Goldman Sachs Group reiterated a “neutral” rating and issued a $14.00 price objective (down from $18.00) on shares of Momenta Pharmaceuticals in a report on Thursday, October 5th. J P Morgan Chase & Co reiterated a “hold” rating and issued a $14.00 price objective on shares of Momenta Pharmaceuticals in a report on Thursday, October 5th. Finally, ValuEngine cut Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.00.

Shares of Momenta Pharmaceuticals (MNTA) traded up $0.20 during trading on Thursday, hitting $12.40. The company had a trading volume of 487,557 shares, compared to its average volume of 763,898. Momenta Pharmaceuticals has a 1 year low of $11.85 and a 1 year high of $19.90.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.03. Momenta Pharmaceuticals had a negative return on equity of 16.20% and a negative net margin of 55.61%. The firm had revenue of $24.09 million during the quarter, compared to analyst estimates of $29.58 million. During the same quarter in the previous year, the business earned ($0.26) EPS. Momenta Pharmaceuticals’s revenue for the quarter was down 17.3% compared to the same quarter last year. research analysts forecast that Momenta Pharmaceuticals will post -1.16 earnings per share for the current year.

In other news, CEO Craig A. Wheeler sold 4,116 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $13.35, for a total transaction of $54,948.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Craig A. Wheeler sold 35,667 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $19.03, for a total transaction of $678,743.01. Following the sale, the president now directly owns 286,121 shares in the company, valued at approximately $5,444,882.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,006 shares of company stock worth $789,369. Corporate insiders own 4.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new stake in Momenta Pharmaceuticals in the third quarter valued at approximately $1,067,000. Sectoral Asset Management Inc increased its position in shares of Momenta Pharmaceuticals by 24.4% during the third quarter. Sectoral Asset Management Inc now owns 372,499 shares of the biotechnology company’s stock worth $6,891,000 after acquiring an additional 73,099 shares during the period. KBC Group NV purchased a new stake in shares of Momenta Pharmaceuticals during the third quarter worth $1,069,000. Schwab Charles Investment Management Inc. increased its position in shares of Momenta Pharmaceuticals by 9.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 391,792 shares of the biotechnology company’s stock worth $7,249,000 after acquiring an additional 33,737 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Momenta Pharmaceuticals by 6.8% during the third quarter. Wells Fargo & Company MN now owns 219,520 shares of the biotechnology company’s stock worth $4,062,000 after acquiring an additional 13,921 shares during the period. 93.45% of the stock is currently owned by institutional investors.

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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).

Analyst Recommendations for Momenta Pharmaceuticals (NASDAQ:MNTA)

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