Piper Sandler reaffirmed their buy rating on shares of Momenta Pharmaceuticals (NASDAQ:MNTA) in a report published on Wednesday, TipRanks reports. The firm currently has a $45.00 price target on the biotechnology company’s stock. Piper Sandler also issued estimates for Momenta Pharmaceuticals’ FY2022 earnings at ($1.65) EPS, FY2023 earnings at ($0.65) EPS and FY2024 earnings at $2.05 EPS.
Other research analysts have also issued research reports about the company. Wells Fargo & Co increased their target price on Momenta Pharmaceuticals from $40.00 to $48.00 and gave the company an overweight rating in a research report on Monday, June 15th. ValuEngine lowered Momenta Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, July 2nd. HC Wainwright increased their target price on Momenta Pharmaceuticals from $46.00 to $50.00 and gave the company a buy rating in a research report on Wednesday. Stifel Nicolaus reiterated a buy rating on shares of Momenta Pharmaceuticals in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. increased their target price on Momenta Pharmaceuticals from $37.00 to $42.00 and gave the company an overweight rating in a research report on Tuesday, June 16th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $43.44.
Momenta Pharmaceuticals stock opened at $29.49 on Wednesday. Momenta Pharmaceuticals has a 12 month low of $10.71 and a 12 month high of $39.88. The stock’s 50 day simple moving average is $33.92 and its two-hundred day simple moving average is $30.78. The firm has a market cap of $3.47 billion, a PE ratio of -10.53 and a beta of 1.51.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.34) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.14. Momenta Pharmaceuticals had a negative return on equity of 80.37% and a negative net margin of 994.16%. The business had revenue of $8.89 million for the quarter, compared to analyst estimates of $4.08 million. As a group, sell-side analysts forecast that Momenta Pharmaceuticals will post -1.61 earnings per share for the current fiscal year.
In other Momenta Pharmaceuticals news, SVP Santiago Arroyo sold 51,354 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $35.35, for a total value of $1,815,363.90. Following the completion of the sale, the senior vice president now directly owns 55,694 shares of the company’s stock, valued at approximately $1,968,782.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jo Ann Beltramello sold 1,219 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $30.00, for a total value of $36,570.00. Following the completion of the sale, the insider now directly owns 57,106 shares of the company’s stock, valued at $1,713,180. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,176 shares of company stock valued at $7,091,801. 3.40% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank increased its stake in shares of Momenta Pharmaceuticals by 12.7% in the 2nd quarter. Comerica Bank now owns 124,560 shares of the biotechnology company’s stock worth $3,968,000 after acquiring an additional 14,019 shares during the last quarter. Mackay Shields LLC increased its stake in shares of Momenta Pharmaceuticals by 27.0% in the 2nd quarter. Mackay Shields LLC now owns 78,048 shares of the biotechnology company’s stock worth $2,597,000 after acquiring an additional 16,600 shares during the last quarter. Moody Aldrich Partners LLC increased its stake in shares of Momenta Pharmaceuticals by 17.3% in the 2nd quarter. Moody Aldrich Partners LLC now owns 47,190 shares of the biotechnology company’s stock worth $1,570,000 after acquiring an additional 6,965 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of Momenta Pharmaceuticals during the 2nd quarter worth about $553,000. Finally, CIBC Asset Management Inc increased its position in shares of Momenta Pharmaceuticals by 7.4% during the 2nd quarter. CIBC Asset Management Inc now owns 7,940 shares of the biotechnology company’s stock worth $264,000 after purchasing an additional 546 shares during the last quarter. 96.92% of the stock is owned by institutional investors and hedge funds.
Momenta Pharmaceuticals Company Profile
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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