Goldman Sachs Ratchets Price Target On Momenta (MNTA) Higher

Goldman Sachs boosted its price target on Momenta Pharmaceuticals (NASDAQ: MNTA) from $12 to $17 after the US District Court granted the company a preliminary injunction (PI), which prevents WPI/Amphastar from launching their generic Lovenox.

The firm said this is a significant positive for MNTA for two reasons: (1) it shows that MNTA’s core characterization technology is valuable and could be the gateway to sustained duopolies on generic biologic opportunities, and (2) it allows for significant extension of the existing Lovenox duopoly – a major economic positive.

Despite the price target hike, Goldman maintained their Neutral rating.

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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