Canaccord Genuity Reiterates a 'Buy' on Momenta Pharmaceuticals (MNTA); PI Gives at Least ~20 Months' Better Revenues

Canaccord Genuity reiterates a 'Buy' on Momenta Pharmaceuticals (NASDAQ: MNTA) price target raised from $15 to $22.

Canaccord analyst, Ritu Baral, said, "Preliminary injunction (PI) stabilizes m-enox revenues near term, maybe longer. We think MNTA m-enox revenue will decline in Q4/11 on authorized generic (AG) launch but stabilize as the PI against Amphastar may hold and apply to other enoxs. We think the generic Copaxone suit will resolve in Momenta’s favor mid-2012."

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 $12.24 yesterday.

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