Stifel Nicolaus Analysts Give Momenta Pharmaceuticals (MNTA) a $39.00 Price Target

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Stifel Nicolaus set a $39.00 price target on Momenta Pharmaceuticals (NASDAQ:MNTA) in a research note issued to investors on Wednesday. The firm currently has a buy rating on the biotechnology company’s stock.

Several other brokerages have also commented on MNTA. ValuEngine raised Momenta Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, July 10th. BidaskClub raised Momenta Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Saturday, July 14th. Cantor Fitzgerald set a $24.00 price target on Momenta Pharmaceuticals and gave the company a hold rating in a research note on Monday, October 1st. Piper Jaffray Companies started coverage on Momenta Pharmaceuticals in a research note on Monday, November 5th. They issued an overweight rating and a $35.00 price target on the stock. Finally, Zacks Investment Research raised Momenta Pharmaceuticals from a hold rating to a buy rating and set a $18.00 price target on the stock in a research note on Monday, October 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $27.00.

Shares of Momenta Pharmaceuticals stock traded down $1.38 during trading hours on Wednesday, hitting $13.12. The company’s stock had a trading volume of 392,891 shares, compared to its average volume of 998,393. Momenta Pharmaceuticals has a twelve month low of $11.72 and a twelve month high of $32.20. The firm has a market cap of $1.13 billion, a PE ratio of -10.93 and a beta of 2.34.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.45) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.18. Momenta Pharmaceuticals had a negative return on equity of 44.72% and a negative net margin of 158.21%. The business had revenue of $14.88 million for the quarter, compared to analyst estimates of $16.99 million. During the same quarter in the prior year, the company posted ($0.44) EPS. The company’s quarterly revenue was down 38.2% on a year-over-year basis. On average, research analysts expect that Momenta Pharmaceuticals will post -2.59 earnings per share for the current year.

In related news, Director Elizabeth Stoner sold 4,152 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $27.33, for a total transaction of $113,474.16. Following the transaction, the director now owns 33,791 shares of the company’s stock, valued at approximately $923,508.03. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Craig A. Wheeler sold 1,969 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $27.43, for a total value of $54,009.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,052 shares of company stock worth $192,854. Corporate insiders own 4.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Momenta Pharmaceuticals during the 2nd quarter worth about $108,000. Sawtooth Solutions LLC acquired a new position in Momenta Pharmaceuticals during the 3rd quarter worth about $227,000. Pillar Pacific Capital Management LLC acquired a new position in Momenta Pharmaceuticals during the 3rd quarter worth about $231,000. Essex Investment Management Co. LLC acquired a new position in Momenta Pharmaceuticals during the 3rd quarter worth about $330,000. Finally, Amalgamated Bank lifted its stake in Momenta Pharmaceuticals by 16.1% during the 2nd quarter. Amalgamated Bank now owns 12,544 shares of the biotechnology company’s stock worth $257,000 after acquiring an additional 1,739 shares in the last quarter. 95.93% of the stock is currently owned by hedge funds and other institutional investors.

Momenta Pharmaceuticals Company Profile

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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