Goldman Sachs Slashes Price Target On Momenta Pharmaceuticals (MNTA) On Amphastar Approval

Goldman Sachs cuts its price target on Neutral-rated Momenta Pharmaceuticals (NASDAQ: MNTA) from $20 to $12 after the approval of Amphastar's generic Lovenox which will compete with the company's own generic Lovenox product.

"With the entrance of a second generic entrant into the Lovenox market, MNTA’s earning power declines dramatically, going from an annual revenue run rate of $320 million-plus to nearly $80 million, and $4.00-plus per share to $0.14-plus per share," the analyst stated.

For more ratings news on Momenta Pharmaceuticals click here and for the rating history of Momenta Pharmaceuticals click here.

Shares of Momenta Pharmaceuticals closed at $12.30 yesterday.

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