Momenta Pharmaceuticals Inc. MNTA was a big mover last session, as its shares rose almost 13% on the day. The move came after the stock's rating was upped to "overweight" from "equal weight" at Barclays. This led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $11.39 to $12.09 in the past one-month time frame.
None of the estimates for this stock were revised over the past 30 days while the Zacks Consensus Estimate moved higher, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Momenta Pharmaceuticals currently carries a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the med-biomed/gene space is Exelixis, Inc. EXEL, which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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