Momenta Pharmaceuticals (MNTA) is Upgraded by Barclays to Overweight, Raises Price Target to $ 19

Momenta Pharmaceuticals (MNTA) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 19 from a previous price target of $13 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on Momenta Pharmaceuticals. Maxim Group Downgraded Momenta Pharmaceuticals on Sep 7, 2016 to ” Sell”, Price Target of the shares are set at $6.

On the company’s financial health, Momenta Pharmaceuticals reported $-0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.33. The company had revenue of $26.40 million for the quarter, compared to analysts expectations of $21.93 million. The company’s revenue was down -41.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.04 EPS.

Momenta Pharmaceuticals opened for trading at $11.42 and hit $11.62 on the upside on Friday, eventually ending the session at $11.595, with a gain of 1.71% or 0.195 points. The heightened volatility saw the trading volume jump to 3,25,802 shares. Company has a market cap of $823 M.

In a different news, on Aug 23, 2016, Ganesh Venkataraman Kaundinya (Senior V.P., Research) sold 1,049 shares at $12.06 per share price. According to the SEC, on Aug 23, 2016, James M. Roach (Senior VP, Development and Chi) sold 1,091 shares at $12.06 per share price. On Aug 23, 2016, Bruce Leicher (SVP & General Counsel) sold 1,030 shares at $12.06 per share price, according to the Form-4 filing with the securities and exchange commission.

Momenta Pharmaceuticals Inc. (Momenta) is a biotechnology company focused on developing generic versions of drugs biosimilars and therapeutics for oncology and autoimmune disease. The Company has three product areas: Complex Generics Biosimilars and Novel Therapeutics. The Company’s product a generic version of Lovenox (enoxaparin sodium injection) was approved by the United States Food and Drug Administration. The Company is developing Complex Generics such as Enoxaparin Sodium Injection and M356. The Company is developing Bosimilars including M923 and M834. The Company is developing Novel Therapeutics including Necuparanib. The Company is developing M356 as a generic version of Copaxone. The Company is developing M923 a biosimilar of HUMIRA. The Company is developing M834 as a biosimilar of ORENCIA.

Momenta Pharmaceuticals

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