Buy Momenta Pharmaceuticals (NASDAQ:MNTA) on Weakness Advises Canaccord

Citing several catalysts and factor surrounding Momenta Pharmaceuticals (NASDAQ:MNTA), Canaccord see mostly positives for the company, and recommends buying them on weakness.

Canaccord says, "We think m-enoxaparin’s (MNTA/Sandoz generic Lovenox) sales are robust but Teva’s generic enox may be out mid-2011. We think M356, MNTA/Sandoz’ generic Copaxone, is approvable without large clinical trials and MNTA will get positive clarity in the patent suit in H2/11. Our $27 target is based on a sum of the parts analysis."

Canaccord Genuity maintains a "Buy" on Momenta Pharmaceuticals (MNTA), which closed Wednesday at $13.26, up $0.76, or 6.08 percent. Canaccord has a price target of $27 on Momenta.