Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) saw an uptick in trading volume on Friday . 2,259,092 shares were traded during mid-day trading, an increase of 301% from the previous session’s volume of 564,005 shares.The stock last traded at $17.60 and had previously closed at $17.35.
Several research firms have recently weighed in on MNTA. BidaskClub raised shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Zacks Investment Research cut shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Maxim Group set a $6.00 price objective on shares of Momenta Pharmaceuticals and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price objective on shares of Momenta Pharmaceuticals in a research report on Thursday, August 3rd. Finally, Barclays PLC cut shares of Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $20.00 to $17.00 in a research report on Monday, May 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Momenta Pharmaceuticals presently has an average rating of “Hold” and an average target price of $16.63.
The company’s 50-day moving average is $16.42 and its 200 day moving average is $15.52. The firm’s market capitalization is $1.30 billion.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). Momenta Pharmaceuticals had a negative net margin of 39.35% and a negative return on equity of 12.28%. The firm had revenue of $23.57 million during the quarter, compared to analyst estimates of $24.64 million. During the same quarter in the prior year, the business posted ($0.31) earnings per share. Momenta Pharmaceuticals’s revenue for the quarter was down 10.8% compared to the same quarter last year. Equities analysts forecast that Momenta Pharmaceuticals, Inc. will post ($1.39) earnings per share for the current fiscal year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 16,953 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $16.94, for a total transaction of $287,183.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Craig A. Wheeler sold 4,116 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.07, for a total transaction of $62,028.12. Following the sale, the president now owns 269,231 shares of the company’s stock, valued at $4,057,311.17. The disclosure for this sale can be found here. Insiders have sold 43,996 shares of company stock valued at $735,755 in the last ninety days. 4.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund grew its stake in Momenta Pharmaceuticals by 0.4% during the first quarter. Texas Permanent School Fund now owns 46,821 shares of the biotechnology company’s stock worth $625,000 after buying an additional 201 shares during the period. PNC Financial Services Group Inc. grew its stake in Momenta Pharmaceuticals by 0.4% during the second quarter. PNC Financial Services Group Inc. now owns 76,863 shares of the biotechnology company’s stock worth $1,299,000 after buying an additional 303 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in Momenta Pharmaceuticals by 2.2% during the first quarter. Municipal Employees Retirement System of Michigan now owns 14,600 shares of the biotechnology company’s stock worth $195,000 after buying an additional 310 shares during the period. Pinebridge Investments L.P. grew its stake in Momenta Pharmaceuticals by 4.3% during the second quarter. Pinebridge Investments L.P. now owns 8,798 shares of the biotechnology company’s stock worth $149,000 after buying an additional 363 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Momenta Pharmaceuticals by 3.0% during the first quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock worth $191,000 after buying an additional 411 shares during the period. Institutional investors own 93.86% of the company’s stock.
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About Momenta Pharmaceuticals
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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