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Momenta Pharmaceuticals Shares Sinking Lower, Down 1.4%

Published on Wed, 01/30/2013 - 13:24
By Adrienne Chilton

Momenta Pharmaceuticals (NASDAQ:MNTA) is one of today's biggest movers, down 1.4% to $12.87. The Dow Jones Industrial Average is now trading fractionally higher to 13,956 and the S&P is trading fractionally lower to 1,507.

Over the past year, Momenta Pharmaceuticals has traded in a range of $10.05 to $21.00 and is now at $12.87, 28% above that low. The 200-day and 50-day moving averages have moved 0.24% lower and 0.90% higher over the past week, respectively.

Momenta Pharmaceuticals, Inc. is a biotechnology company. The Company specializes in sequencing and engineering of complex sugars for the development of improved versions of existing drugs, the development of novel drugs, and the discovery of new biological processes. Momenta also develops technology-enabled generic products.

Momenta Pharmaceuticals (NASDAQ:MNTA) has potential upside of 10.7% based on a current price of $12.87 and analysts' consensus price target of $14.25. The stock should hit resistance at its 200-day moving average (MA) of $13.57, as well as support at its 50-day MA of $11.59.

By Adrienne Chilton
achilton@fnno.com