Todays Report: The Momenta Pharmaceuticals Inc. (MNTA) Coverage Initiated by Analysts at Aegis

The Momenta Pharmaceuticals Inc. (MNTA) Coverage Initiated by Analysts at Aegis

Aegis initiated coverage on shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) in a report published on Tuesday. The brokerage issued a hold rating and a $15.00 target price on the biotechnology company’s stock.

A number of other brokerages also recently commented on MNTA. JPMorgan Chase & Co. lowered their price objective on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an overweight rating on the stock in a research report on Friday, August 5th. Barclays PLC reaffirmed a buy rating and set a $19.00 price objective on shares of Momenta Pharmaceuticals in a research report on Thursday, November 3rd. Cowen and Company reaffirmed a hold rating on shares of Momenta Pharmaceuticals in a research report on Sunday, August 7th. Zacks Investment Research downgraded shares of Momenta Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, November 10th. Finally, Maxim Group reaffirmed a sell rating and set a $6.00 price objective on shares of Momenta Pharmaceuticals in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Momenta Pharmaceuticals presently has an average rating of Buy and a consensus target price of $16.10.

Shares of Momenta Pharmaceuticals (NASDAQ:MNTA) opened at 14.15 on Tuesday. Momenta Pharmaceuticals has a 1-year low of $7.86 and a 1-year high of $18.26. The stock’s market cap is $975.74 million. The company’s 50-day moving average is $12.36 and its 200 day moving average is $11.67.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.03. Momenta Pharmaceuticals had a negative net margin of 93.75% and a negative return on equity of 26.55%. The business had revenue of $299.14 million for the quarter, compared to analyst estimates of $25.68 million. During the same quarter in the previous year, the business earned ($0.44) earnings per share. The firm’s revenue was up 2067.7% compared to the same quarter last year. Equities research analysts anticipate that Momenta Pharmaceuticals will post ($1.16) EPS for the current year.

In related news, President Craig A. Wheeler sold 5,880 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $13.68, for a total transaction of $80,438.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of MNTA. Pacad Investment Ltd. purchased a new stake in Momenta Pharmaceuticals during the second quarter valued at about $103,000. Dynamic Technology Lab Private Ltd purchased a new stake in Momenta Pharmaceuticals during the second quarter valued at about $109,000. Jane Street Group LLC purchased a new stake in Momenta Pharmaceuticals during the second quarter valued at about $109,000. Profund Advisors LLC purchased a new stake in Momenta Pharmaceuticals during the third quarter valued at about $121,000. Finally, Mason Street Advisors LLC purchased a new stake in Momenta Pharmaceuticals during the second quarter valued at about $134,000. 84.86% of the stock is owned by institutional investors and hedge funds.

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