Stifel Nicolaus analyst Derek Archila reiterated a Buy rating on Momenta Pharma (MNTA) today and set a price target of $29. The company’s shares opened today at $10.71, close to its 52-week low of $9.51.
Archila said:
“We are reiterating our Buy rating on MNTA shares as we are encouraged by MNTA’s recent pipeline progress for the nipocalimab (M281) and M254 programs and believe its newest announced indication for nipocalimab, warm autoimmune hemolytic anemia (wAIHA), offers a nice commercial opportunity with solid biological rationale.”
According to TipRanks.com, Archila is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.7% and a 26.7% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Madrigal Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.
Momenta Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $29.
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The company has a one-year high of $29.75 and a one-year low of $9.51. Currently, Momenta Pharma has an average volume of 497.3K.
Based on the recent corporate insider activity of 95 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. Most recently, in May 2019, James Sulat, a Director at MNTA bought 10,000 shares for a total of $88,500.
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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.
