Momenta Pharmaceuticals (NASDAQ:MNTA) Driven by M356 Potential

Based on the potential of M356, Canaccord continues to be positive on Momenta Pharmaceuticals (NASDAQ:MNTA), with the high probability of it being approved with minimal trials.

Canaccord says, "Reiterate BUY, price target, and thesis based on M356 potential, technology platform - We think launch of m-enoxaparin (Momenta/Sandoz’ generic Lovenox) is going well but that Teva’s (Nasdaq:TEVA) generic enox may be out H1/11. We think M356, Momenta/Sandoz’ generic of Copaxone, is approvable without large clinical trials and MNTA will get positive clarity in the M356 patent suit in 2011. Our PT target is based on a sum of the parts analysis."

Canaccord Genuity maintains a "Buy" rating on Momenta Pharmaceuticals (MNTA), which closed Monday at $15.80, up $0.65, or 4.29 percent. Canaccord has a price target of $27 on them.