Momenta Pharmaceuticals (MNTA) Stock Price Down 11.3%

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Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) traded down 11.3% during mid-day trading on Thursday . The company traded as low as $18.40 and last traded at $18.61. 1,016,807 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 670,294 shares. The stock had previously closed at $20.98.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. BidaskClub raised shares of 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 shares of Momenta Pharmaceuticals and gave the company a “hold” rating in a research note on Thursday, August 9th. ValuEngine raised shares of Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 10th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $40.00 price target on shares of Momenta Pharmaceuticals in a research note on Wednesday. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $26.33.

The company has a market cap of $2.06 billion, a PE ratio of -13.42 and a beta of 1.75.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.50). Momenta Pharmaceuticals had a negative net margin of 128.49% and a negative return on equity of 40.55%. The company had revenue of $13.00 million during the quarter, compared to analyst estimates of $15.83 million. During the same period in the prior year, the business posted ($0.50) EPS. Momenta Pharmaceuticals’s revenue was down 44.9% compared to the same quarter last year. On average, research analysts forecast that Momenta Pharmaceuticals, Inc. will post -2.02 EPS for the current year.

In other Momenta Pharmaceuticals news, CEO Craig A. Wheeler sold 2,601 shares of Momenta Pharmaceuticals stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $28.74, for a total transaction of $74,752.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Young Kwon sold 35,164 shares of Momenta Pharmaceuticals stock in a transaction on Wednesday, July 18th. The stock was sold at an average price of $29.33, for a total transaction of $1,031,360.12. Following the sale, the senior vice president now directly owns 122,624 shares in the company, valued at approximately $3,596,561.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,753 shares of company stock worth $1,377,146. 4.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Momenta Pharmaceuticals during the 2nd quarter worth $108,000. Amalgamated Bank boosted 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 purchasing an additional 1,739 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Momenta Pharmaceuticals during the 2nd quarter worth $284,000. Profund Advisors LLC boosted its stake in Momenta Pharmaceuticals by 33.1% during the 1st quarter. Profund Advisors LLC now owns 15,483 shares of the biotechnology company’s stock worth $281,000 after purchasing an additional 3,853 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Momenta Pharmaceuticals during the 2nd quarter worth $336,000. 96.46% of the stock is currently owned by institutional investors.

Momenta Pharmaceuticals Company Profile (NASDAQ:MNTA)

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.

Read More: Intrinsic Value and Stock Selection

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