Stifel Nicolaus analyst Derek Archila maintained a Buy rating on Momenta Pharma (MNTA) on February 18 and set a price target of $29. The company’s shares opened today at $14.47.
Archila commented:
“We remain positive on the stock as we believe very little is currently being priced in for MNTA’s M281 program, which we view as mechanistically de-risked and, based on our prior research into the CK/albumin controversies, to be safe. With the first set of proof-of-concept (POC) data expected in 1H-to-mid-2020 for M254 and M281, we believe the stock should begin to work in anticipation of these results and think shares could inflect to ~$40, if they are positive. 2 study in myasthenia gravis (MG) is underway, with results expected in mid-2020. MNTA’s CEO indicated he had just returned from initiating a site for the Phase 2 trial for M281 in MG and, while he acknowledged the heightened competition for MG patients given the increased clinical activity in the space – i.e.”
According to TipRanks.com, Archila is ranked 0 out of 5 stars with an average return of -7.6% and a 35.2% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Selecta Biosciences.
Momenta Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $22.50.
See today’s analyst top recommended stocks >>
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 786.5K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
