Momenta Pharmaceuticals (MNTA) Trading 10.1% Higher

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA)’s share price shot up 10.1% during trading on Monday . The company traded as high as $15.75 and last traded at $15.75. 907,700 shares were traded during trading, a decline of 19% from the average session volume of 1,122,389 shares. The stock had previously closed at $14.30.

A number of brokerages have commented on MNTA. BidaskClub raised Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 9th. Zacks Investment Research raised Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Cowen set a $15.00 target price on Momenta Pharmaceuticals and gave the company a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird cut Momenta Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $15.00 in a report on Friday, October 6th. Finally, ValuEngine cut Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.00.

The stock has a market cap of $1,203.10, a price-to-earnings ratio of -19.69 and a beta of 1.66.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.44) EPS for the quarter, beating the 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 analysts’ expectations of $29.58 million. During the same quarter last year, the firm earned ($0.26) earnings per share. The business’s revenue for the quarter was down 17.3% on a year-over-year basis. sell-side analysts anticipate that Momenta Pharmaceuticals, Inc. will post -1.16 EPS for the current fiscal year.

In related news, Director Elizabeth Stoner sold 5,500 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $13.10, for a total value of $72,050.00. Following the completion of the sale, the director now owns 13,240 shares of the company’s stock, valued at $173,444. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Craig A. Wheeler sold 4,116 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $13.35, for a total value of $54,948.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,505 shares of company stock valued at $685,923. Insiders own 4.40% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its holdings in shares of Momenta Pharmaceuticals by 14.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,446 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 834 shares during the last quarter. Pinebridge Investments L.P. grew its position in Momenta Pharmaceuticals by 4.3% in the second quarter. Pinebridge Investments L.P. now owns 8,798 shares of the biotechnology company’s stock worth $149,000 after acquiring an additional 363 shares during the period. Profund Advisors LLC grew its position in Momenta Pharmaceuticals by 13.1% in the second quarter. Profund Advisors LLC now owns 13,172 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 1,530 shares during the period. Citigroup Inc. grew its position in Momenta Pharmaceuticals by 263.2% in the second quarter. Citigroup Inc. now owns 13,736 shares of the biotechnology company’s stock worth $232,000 after acquiring an additional 9,954 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new position in Momenta Pharmaceuticals in the second quarter worth approximately $244,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

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Momenta Pharmaceuticals Company Profile

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).

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