Replies to post #8211 on Momenta Pharmaceuticals, Inc. (MNTA)

[jbog]

UBS maintains a 'Buy' on Momenta Pharmaceuticals (NASDAQ: MNTA) price target raised from $19 to $22.

UBS analyst said, "We now include the upfront fee, risk-adjusted milestones and sales-based royalties from Baxter (NYSE: BAX) in our model. We are also increasing the R&D run-rate by $15M/year effective 2012 to reflect the increases in activities for biosimilars. For 2012 we are raising our EPS estimate from $0.09 to $0.25, mainly driven by $15M in upfront fee which we assume will be recognized in 2012." ( WTF are they referring too?)

"The two near term binary events incl. (1) a decision on the appeal to the PI on Lovenox in late Jan/Feb (hearing is on Jan 24th) on which we remain hopeful and (2) the Copaxone trial decision likely in 1H12 where we assume a negative outcome. Longer term, we believe MNTA has potential for significant shareholder value creation based on its biosimilars play."


Shares of Momenta Pharmaceuticals closed at $19.38 yesterday, with a 52 week range of $10.15-$21.00.