Maxim Group Assumes Momenta Pharmaceuticals (MNTA) at Buy

Maxim Group assumes coverage on Momenta Pharmaceuticals (NASDAQ: MNTA) with a Buy rating and a price target of $17.00 (from $24.00).

Analyst Jason Kolbert said, "We believe Momenta is well positioned to benefit from the launch of generic Copaxone (M356). We continue to expect generic Copaxone to follow the same regulatory path paved by Momenta’s enoxaparin. We anticipate FDA approval of M356, partnered with Sandoz (generic arm of Novartis – NVS - $88.44-NR) this month. Even if delayed, we believe the company’s valuation is reasonable. Once launched M356 should, not only rapidly take share from Copaxone, but also from other brand products as managed care forces drive cost efficiency in the marketplace."

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 $12.60 yesterday.

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