Absolutely bizarre price target by GS, in light of the research report from their analyst... The price target and their commentary are completely out of sync.
Maybe they meant to set a $51 price target and inadvertently typed $15 on the keyboard.... see below???
"We see MNTA’s proprietary technology as the basis of approval
Momenta’s technology, exclusively in-licensed from Massachusetts Institute of Technology, enables it to sequence complex mixtures. This technology has been shown to sequence complex sugars (published in leading journals Science and Nature), and we
believe it can be extended to other complex mixtures as well. To our knowledge, no other technology can so thoroughly characterize sugars, making Momenta unique in its ability to fully characterize Lovenox (a mixture of polysaccharides, also known as sugar chains) to demonstrate sameness. We believe that competitors do not have this technology and will therefore be unable to gain approval for the next several years. Moreover, Momenta recently sued Teva for infringement of two patents covering the company’s proprietary methods of producing enoxaparin. If Teva is found to infringe these patents, we believe it is less likely that Teva will be able to demonstrate the interchangeability of its generic version with branded Lovenox"
AI
