Momenta Pharmaceuticals (NASDAQ:MNTA) Shares Gap Up on Analyst Upgrade

Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) gapped up prior to trading on Thursday after SunTrust Banks raised their price target on the stock to . The stock had previously closed at $29.36, but opened at $28.90. SunTrust Banks currently has a buy rating on the stock. Momenta Pharmaceuticals shares last traded at $30.16, with a volume of 139,799 shares traded.

Several other brokerages have also commented on MNTA. ValuEngine lowered Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. JPMorgan Chase & Co. upgraded Momenta Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the company from $14.00 to $30.00 in a research note on Tuesday. BidaskClub upgraded Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Stifel Nicolaus restated a “buy” rating and set a $29.00 price target on shares of Momenta Pharmaceuticals in a research note on Thursday, October 24th. Finally, HC Wainwright assumed coverage on Momenta Pharmaceuticals in a research note on Wednesday, September 25th. They set a “buy” rating and a $24.00 price target on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Momenta Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $26.89.

In other Momenta Pharmaceuticals news, SVP Santiago Arroyo sold 6,318 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $13.83, for a total value of $87,377.94. Following the completion of the sale, the senior vice president now owns 33,272 shares of the company’s stock, valued at $460,151.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Craig A. Wheeler sold 1,772 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.49, for a total value of $29,220.28. Following the completion of the sale, the chief executive officer now directly owns 9,283 shares of the company’s stock, valued at approximately $153,076.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,475 shares of company stock worth $2,851,495. 3.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC acquired a new stake in shares of Momenta Pharmaceuticals during the second quarter worth about $143,000. Bank of Montreal Can increased its position in shares of Momenta Pharmaceuticals by 298.3% during the second quarter. Bank of Montreal Can now owns 11,771 shares of the biotechnology company’s stock worth $146,000 after purchasing an additional 8,816 shares in the last quarter. Laurion Capital Management LP purchased a new stake in shares of Momenta Pharmaceuticals during the second quarter worth approximately $322,000. A.R.T. Advisors LLC purchased a new stake in shares of Momenta Pharmaceuticals during the second quarter worth approximately $365,000. Finally, Metropolitan Life Insurance Co NY increased its position in shares of Momenta Pharmaceuticals by 1.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 32,021 shares of the biotechnology company’s stock worth $415,000 after purchasing an additional 596 shares in the last quarter. 96.94% of the stock is owned by institutional investors and hedge funds.

The stock has a market capitalization of $2.51 billion, a PE ratio of -14.93 and a beta of 2.11. The company has a 50-day moving average of $18.83 and a 200 day moving average of $14.53.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.09). Momenta Pharmaceuticals had a negative return on equity of 59.82% and a negative net margin of 361.66%. The firm had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $5.24 million. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. The firm’s revenue for the quarter was down 57.0% compared to the same quarter last year. As a group, analysts forecast that Momenta Pharmaceuticals, Inc. will post -2.66 EPS for the current fiscal year.

About Momenta Pharmaceuticals (NASDAQ:MNTA)

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases in the United States. Its novel therapeutic programs include M281, a fully-human anti-neonatal Fc receptor (FcRn), aglycosylated immunoglobulin G (IgG1), and monoclonal antibody to reduce circulating IgG antibodies by blocking endogenous IgG recycling via FcRn; M230, a recombinant trivalent human IgG1 Fc multimer containing three IgG Fc regions joined to maximize activity; and M254, a hyper-sialylated immunoglobulin to treat various inflammatory diseases, including idiopathic thrombocytopenic purpura and chronic inflammatory demyelinating polyneuropathy.

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