Rhumbline Advisers reduced its position in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 2.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 181,276 shares of the biotechnology company’s stock after selling 4,681 shares during the quarter. Rhumbline Advisers’ holdings in Momenta Pharmaceuticals were worth $4,768,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Momenta Pharmaceuticals during the 2nd quarter valued at approximately $108,000. Sawtooth Solutions LLC acquired a new stake in shares of Momenta Pharmaceuticals during the 3rd quarter valued at approximately $227,000. Pillar Pacific Capital Management LLC acquired a new stake in shares of Momenta Pharmaceuticals during the 3rd quarter valued at approximately $231,000. Essex Investment Management Co. LLC acquired a new stake in shares of Momenta Pharmaceuticals during the 3rd quarter valued at approximately $330,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Momenta Pharmaceuticals during the 2nd quarter valued at approximately $284,000. 95.71% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on MNTA. BidaskClub lowered Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. ValuEngine raised Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research reissued a “hold” rating on shares of Momenta Pharmaceuticals in a research report on Wednesday, November 14th. Stifel Nicolaus reissued a “buy” rating and set a $40.00 price target on shares of Momenta Pharmaceuticals in a research report on Wednesday, October 10th. Finally, Piper Jaffray Companies began coverage on Momenta Pharmaceuticals in a research report on Monday, November 5th. They set an “overweight” rating and a $35.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Momenta Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $27.00.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.45) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.18. The firm had revenue of $14.88 million during the quarter, compared to the consensus estimate of $16.99 million. Momenta Pharmaceuticals had a negative return on equity of 44.72% and a negative net margin of 158.21%. The firm’s revenue was down 38.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.44) EPS. On average, sell-side analysts predict that Momenta Pharmaceuticals, Inc. will post -2.69 earnings per share for the current year.
In related news, CEO Craig A. Wheeler sold 4,374 shares of the company’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $13.50, for a total transaction of $59,049.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 8,136 shares of company stock valued at $106,026. 4.80% of the stock is owned by company insiders.
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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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