Market Overview

UPDATE: Bank of America Downgrades Momenta Pharmaceuticals to Underperform on Valuation

Share:
Related MNTA
Benzinga's Top Upgrades, Downgrades For February 22, 2017
15 Biggest Mid-Day Losers For Tuesday
Momenta Delay Means Race For Copaxone Generic Is On (Seeking Alpha)

Bank of America downgraded Momenta Pharmaceuticals (NASDAQ: MNTA) from Neutral to Underperform and maintained a $14.00 price objective.

Bank of America analyst Sumant S. Kulkarni wrote, "While fundamentals remain similar and we are not changing our model, we are downgrading MNTA from Neutral to Underperform as the stock is trading around our DCF-based PO of $14. We note our model already includes value for generic Copaxone (tough to genericize), and $400mn for future milestones from the Baxter biosimilars partnership (product specifics largely unknown). As a result, we believe the stock, which is up ~18% YTD, already reflects these positives and could underperform other stocks in our coverage cluster. "

Momenta Pharmaceuticals closed at $13.86 on Monday.

Latest Ratings for MNTA

DateFirmActionFromTo
Feb 2017Leerink SwannDowngradesOutperformMarket Perform
Nov 2016Aegis CapitalInitiates Coverage OnHold
Oct 2016BarclaysUpgradesEqual-WeightOverweight

View More Analyst Ratings for MNTA
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Analyst Ratings

 

Related Articles (MNTA)

View Comments and Join the Discussion!