Biotech Values

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Stifel Nicolaus Maintains Their Buy Rating on Momenta Pharma (MNTA)

Stifel Nicolaus analyst Derek Archila maintained a Buy rating on Momenta Pharma (NASDAQ: MNTA) on October 8 and set a price target of $40.

Archila wrote:

“We believe MNTA’s R&D day on 10/11 will be an important event as the company repositions itself as more of a traditional biotech refocusing its resources on its proprietary pipeline. We think management’s recent steps on restructuring is a testament to that and while the outcome of the strategic review did not get many investors excited, we think it was necessary ahead of R&D day. As we indicated in our resumption of coverage, we believe we are making an early call on MNTA given our bullishness on the promise of the FcRn class and think additional data at R&D day for its candidate, M281, could provide some incremental differentiation relative to other programs furthering our thesis it could be best-in-class and could offer modest near-term upside for the stock."