Bank of America Merrill Lynch Maintains Momenta Pharmaceuticals Neutral, PO To $16

Bank of America Merrill Lynch maintained its Momenta Pharmaceuticals

Neutral rating and raised its Momenta Pharmaceuticals price objective to $16 in a research report published today. In the report, Bank of America Merrill Lynch states, "We are raising our DCF-based price objective to $16 as we now assume that WPI/Amphastar's launch is delayed through 2012. We continue to believe that the stock could be volatile based on litigation (difficult to predict) and competitive developments (still early in Sanofi's launch of its authorized generic)." Shares of Momenta Pharmaceuticals closed Monday at $14.34, down 2.32% from Friday's market close.