UPDATE: UBS Downgrades Momenta Pharmaceuticals (MNTA) to Neutral; Negative Court Ruling
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Price: $13.08 +1.63%
Rating Summary:
3 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
3 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade MNTA Now!
(Updated - July 20, 2012 12:34 PM EDT)
UBS downgraded Momenta Pharmaceuticals (NASDAQ: MNTA) from Buy to Neutral. PT unchanged at $15.
Analyst, Ami Fadia, said, "With the recent negative court ruling in the Copaxone case the company will remain in a cash burn position of ~$1.20/sh/year for the foreseeable future. Momenta will need to tap into its ~$7.50/share cash balance until it can launch generic Copaxone in Sept. 2015 (assuming approval). Upside should come from better visibility into the pipeline; however, it is still early stage and we see limited Near-Term upside."
Fadia would get more constructive on MNTA shares if/when visibility gets better in biologics pipeline, FDA approval and appeal on Enoxaparin is successful. FY12 EPS estimate moves from (1.11) to (0.73) and FY13 from (1.22) to (1.02)
Shares are trading down $0.80 (-5.56%) at $13.59.
For an analyst ratings summary and ratings history on Momenta Pharmaceuticals click here. For more ratings news on Momenta Pharmaceuticals click here.
Shares of Momenta Pharmaceuticals closed at $14.39 yesterday, with a 52 week range of $10.15-$19.71.
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UBS downgraded Momenta Pharmaceuticals (NASDAQ: MNTA) from Buy to Neutral. PT unchanged at $15.
Analyst, Ami Fadia, said, "With the recent negative court ruling in the Copaxone case the company will remain in a cash burn position of ~$1.20/sh/year for the foreseeable future. Momenta will need to tap into its ~$7.50/share cash balance until it can launch generic Copaxone in Sept. 2015 (assuming approval). Upside should come from better visibility into the pipeline; however, it is still early stage and we see limited Near-Term upside."
Fadia would get more constructive on MNTA shares if/when visibility gets better in biologics pipeline, FDA approval and appeal on Enoxaparin is successful. FY12 EPS estimate moves from (1.11) to (0.73) and FY13 from (1.22) to (1.02)
Shares are trading down $0.80 (-5.56%) at $13.59.
For an analyst ratings summary and ratings history on Momenta Pharmaceuticals click here. For more ratings news on Momenta Pharmaceuticals click here.
Shares of Momenta Pharmaceuticals closed at $14.39 yesterday, with a 52 week range of $10.15-$19.71.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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