Market Overview

Bernstein Says Generic Copaxone Win Could Help Momenta Break through $20 Level

Related MNTA
Stocks Hitting 52-Week Lows
Teva Up on Copaxone News - Analyst Blog
Related TEVA
Teva Settles Patent Litigation with Pfizer on Celebrex; Has Received Tenative FDA Approval for All Strengths; May Start Generic Versions in December
Market Wrap For April 16: Markets Hold On To Gains On Positive Yellen Comments And Economic Data
Pfizer Loses Bid to Hold Celebrex Exclusivity to '15 (Fox Business)

Momenta Pharmaceuticals (NASDAQ: MNTA) shares spiked sharply Friday following news of a legal ruling invalidating Teva Pharmaceutical's (NYSE: TEVA) patents on Copaxone in 2015 and partly invalidating its 2014 patents.

Bernstein analyst Ronny Gal sees a 75 percent chance of the court decision being favorable for Momenta. The ruling could open the door to Momenta introducing a generic Copaxone within the next few months, according to Gal.

If Momenta is able to introduce the first generic Copaxone by May 2014, Gal believes shares could be valued at $30. This is nearly twice the $15.35 level shares were trading at prior to Friday's spike.

Gal believes a later release by Q4 2015 could spell upside of 30 percent from current levels to $23 per share.

Gal rates Momenta at Outperform with a $20 price target.

Posted-In: Analyst Color News FDA Legal Analyst Ratings Movers

 

Most Popular

Related Articles (MNTA + TEVA)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free