Momenta Pharmaceuticals (MNTA) Given a $24.00 Price Target at Cantor Fitzgerald

Cantor Fitzgerald set a $24.00 price target on Momenta Pharmaceuticals (NASDAQ:MNTA) in a research report sent to investors on Wednesday. The firm currently has a hold rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Momenta Pharmaceuticals from a hold rating to a buy rating in a report on Friday, July 6th. Stifel Nicolaus restated a buy rating and issued a $40.00 target price on shares of Momenta Pharmaceuticals in a report on Wednesday. ValuEngine cut shares of Momenta Pharmaceuticals from a strong-buy rating to a buy rating in a report on Thursday, June 21st. Finally, Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a sell rating to a hold rating in a report on Friday, June 22nd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Momenta Pharmaceuticals presently has an average rating of Buy and an average price target of $26.33.

MNTA stock traded down $2.51 on Wednesday, hitting $16.10. The company had a trading volume of 2,015,007 shares, compared to its average volume of 677,086. Momenta Pharmaceuticals has a 12-month low of $11.85 and a 12-month high of $32.20. The stock has a market capitalization of $2.06 billion, a P/E ratio of -13.42 and a beta of 1.75.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its earnings results on Thursday, August 9th. The biotechnology company reported ($0.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.50). Momenta Pharmaceuticals had a negative return on equity of 40.55% and a negative net margin of 128.49%. The company had revenue of $13.00 million during the quarter, compared to analysts’ expectations of $15.83 million. During the same quarter in the prior year, the business posted ($0.50) EPS. The company’s revenue for the quarter was down 44.9% compared to the same quarter last year. On average, analysts predict that Momenta Pharmaceuticals will post -2.02 EPS for the current year.

In related news, CEO Craig A. Wheeler sold 1,773 shares of Momenta Pharmaceuticals stock in a transaction on Friday, August 10th. The shares were sold at an average price of $26.06, for a total transaction of $46,204.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Young Kwon sold 35,164 shares of Momenta Pharmaceuticals stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $29.33, for a total transaction of $1,031,360.12. Following the transaction, the senior vice president now owns 122,624 shares in the company, valued at approximately $3,596,561.92. The disclosure for this sale can be found here. Insiders have sold a total of 47,753 shares of company stock worth $1,377,146 in the last quarter. Corporate insiders own 4.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNTA. Northern Trust Corp lifted its stake in shares of Momenta Pharmaceuticals by 0.4% during the 1st quarter. Northern Trust Corp now owns 922,744 shares of the biotechnology company’s stock valued at $16,748,000 after buying an additional 4,018 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Momenta Pharmaceuticals by 2.7% during the 1st quarter. BlackRock Inc. now owns 10,755,588 shares of the biotechnology company’s stock valued at $195,213,000 after buying an additional 282,272 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Momenta Pharmaceuticals by 16.7% during the 1st quarter. Russell Investments Group Ltd. now owns 21,669 shares of the biotechnology company’s stock valued at $393,000 after buying an additional 3,100 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Momenta Pharmaceuticals by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 638,832 shares of the biotechnology company’s stock valued at $11,595,000 after buying an additional 21,142 shares in the last quarter. Finally, Profund Advisors LLC lifted its stake in shares of Momenta Pharmaceuticals by 33.1% during the 1st quarter. Profund Advisors LLC now owns 15,483 shares of the biotechnology company’s stock valued at $281,000 after buying an additional 3,853 shares in the last quarter. Institutional investors own 96.46% of the company’s stock.

About Momenta Pharmaceuticals

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.

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