Momenta Pharmaceuticals, Inc. (MNTA)

[Mpower]

The market discounts the possibility of near-term mC approval. It is sending strong signals (through price action) that tL is likely in the near-term. I don't think MNTA is being priced for worst case scenario, it is being priced for the most-expected scenario....

In other words, the price action indicates that MNTA has less going for it today than it did several years ago.

Several months ago, I was on this board, agreeing with many of you that MNTA would likely goto 25-40 on mL approval (sole-generic scenario). Here we are with MNTA hitting that milestone, and it continues to be priced below its pre-approval levels....

In light of the recent offering and the anemic price action, I am skeptical this moves significantly higher in the next 12 months. The only possibility is a buyout or a big partnership ... but to be honest, its pretty telling they still have nothing.

Fool me once shame on you, fool me twice....