Momenta Pharma Receives a Sell from Maxim Group

By Austin Angelo

Maxim Group analyst Jason McCarthy reiterated a Sell rating on Momenta Pharma (NASDAQ: MNTA) today and set a price target of $6. The company’s shares opened today at $10.80.

McCarthy commented:

“Momenta reported 3Q16 with Glatopa (20mg generic copaxone) revenues of $23.3M (its 50% share from Sandoz). Total revenue was $29.1M and the company reported a net loss of $17.5M. The company ended the quarter with $309M in cash, which should fund operations though 2018.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -18.3% and a 19.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Stellar Biotechnologies, and Inovio Pharmaceuticals.

Momenta Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $19.

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 580.6K.

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.