In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Hold rating on Momenta Pharma (NASDAQ: MNTA), with a price target of $24. The company’s shares closed yesterday at $20.67.
“. Ahead of MNTA’s novel pipeline 11 we have performed a pipeline deep dive, following which we reiterate our Neutral rating and a 12-month price target of $24. We view the company’s novel pipeline as potentially blockbuster, and Momenta, along with its partners, has proven the company’s expertise and ability to successfully develop complex products. However, given the early-stage nature of the company’s auto immune pipeline, we remain on the sidelines at this valuation. We could be more constructive on MNTA stock if the company is able to advance some of its early-stage, novel drugs and show positive data.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -1.1% and a 37.5% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.
Currently, the analyst consensus on Momenta Pharma is a Moderate Buy with an average price target of $32.
The company has a one-year high of $32.20 and a one-year low of $11.85. Currently, Momenta Pharma has an average volume of 499.1K.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MNTA in relation to earlier this year. Last month, James Sulat, a Director at MNTA bought 13,500 shares for a total of $199,665.
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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. Its products include the Glatiramer acetate injection and Enoxaparin Sodium injection.