.jpg "Momenta Pharma (NASDAQ: MNTA)")
In a report released yesterday, Derek Archila from Stifel Nicolaus reiterated a Buy rating on Momenta Pharma (MNTA). The company’s shares closed yesterday at $11.20, close to its 52-week low of $9.55.
Archila said:
“During our recent meeting with management, MNTA highlighted additional data from its Phase 1 studies for M281, its anti-FcRn candidate, (see page 3) which indicates its 30 mg/kg did not lower albumin outside the normal range. We believe this is important as some investors remain skeptical around M281’s safety profile after MNTA’s R&D day which indicated M281 not only lowered IgG but also was modestly lowering albumin. In our recent deep dive on M281’s safety controversies, we believed its potency would allow MNTA a good deal of flexibility to find a regimen offering low/no albumin lowering while maintaining a high level of IgG reduction.”
According to TipRanks.com, Archila is ranked 0 out of 5 stars with an average return of -7.1% and a 33.7% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Pacira Pharmaceuticals.
Currently, the analyst consensus on Momenta Pharma is a Moderate Buy with an average price target of $30.
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Based on Momenta Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $50.3 million. In comparison, last year the company had a net profit of $13.76 million.
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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.
