Cantor Fitzgerald analyst Brandon Folkes reiterated a Hold rating on Momenta Pharma (NASDAQ: MNTA) today and set a price target of $24. The company’s shares opened today at $25.35.
Folkes noted:
“. Post 2Q18, 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 generics and biosimilars. However, given the early-stage nature of the company’s auto immune pipeline, uncertainty regarding the opportunity for Glatopa in the generic Copaxone (multiple sclerosis) market and potential delays in biosimilar revenue, we remain on the sidelines at this valuation.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of 0.2% and a 45.2% 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 Hold with an average price target of $24.
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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 509.4K.
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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.
