Cantor Fitzgerald Sticks to Its Hold Rating for Momenta Pharma (MNTA)


Cantor Fitzgerald analyst Brandon Folkes reiterated a Hold rating on Momenta Pharma (MNTA) today and set a price target of $16. The company’s shares opened today at $13.06, close to its 52-week low of $9.55.

Folkes wrote:

“. Post 1Q19, we reiterate our Neutral rating and our 12-month price target of $16. We view the company’s novel pipeline as potentially blockbuster, although safety concerns raised over the Phase 1 data and a lack of any significant catalysts in 2019 keep us on the sidelines. We could be more constructive on MNTA stock if the company is able to advance its early-stage, novel drugs and show positive efficacy and safety data, which we expect in 2020. We believe the concerns around M281 Phase 1 creatine kinase (CK) and albumin data may turn out to be overdone; however, we would like to see more data on this before moving off the sidelines.”

According to TipRanks.com, Folkes is a 1-star analyst with an average return of -2.9% and a 33.7% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.

Momenta Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $22.50.

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The company has a one-year high of $32.20 and a one-year low of $9.55. Currently, Momenta Pharma has an average volume of 562.4K.

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Momenta Pharmaceuticals, Inc. operates as a biotechnology company that focuses on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases. Its products include the Glatiramer acetate injection and Enoxaparin Sodium injection.

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