J.P. Morgan Reiterates a Buy Rating on Momenta PharmaBy Carrie Williams
“We are updating our model following 3Q results and recent business trends. Overall, we are modestly raising our price target on the recent positive Copaxone IPR decision as well as MNTA regaining full rights to its biosimilar Humira candidate (M923), which we expect the company to re-partner at better economics. While we will closely watch for phase 3 topline results from M923 later this year, we continue to see the key catalyst for MNTA as the path forward on generic Copaxone 40mg, related to which we continue to see good risk/reward for the company into the district court decision early next year.”
According to TipRanks.com, Schott is a 1-star analyst with an average return of -4.3% and a 36.7% success rate. Schott covers the Healthcare sector, focusing on stocks such as Endo International, Impax Laboratories, and Merck & Company.
Currently, the analyst consensus on Momenta Pharma is Moderate Buy and the average price target is $19, representing a 71.9% upside.
In a report released yesterday, Barclays also reiterated a Buy rating on the stock with a $19 price target.
The company has a one year high of $18.85 and a one year low of $7.86. Currently, Momenta Pharma has an average volume of 581.2K.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2015, Michael Franken, the President of MNTA sold 20,000 shares for a total of $447,200.
Momenta Pharmaceuticals, Inc. engages in the discovery, development, and commercialization of pharmaceutical products. It focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for oncology and autoimmune disease. It sells its products include Glatiramer acetate injection and Enoxaparin Sodium injection. The company was founded by Ram Sasisekharan and Ganesh Venkatraman Kaundinya in May 2001 and is headquartered in Cambridge, MA.