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02.03.2020 23:09:00

Here's Why Momenta Pharmaceuticals Stock Rose 10.8% on Monday

Shares of Momenta Pharmaceuticals (NASDAQ: MNTA) jumped 10.8% on Monday as investors rushed to take advantage of last week's record market sell-off. The S&P 500 declined by double digits in the last week of February. Unfortunately, that coincided with the full-year 2019 earnings reports of many companies, including Momenta Pharmaceuticals. The company reported full-year 2019 operating results on Feb. 26 and provided an update on its pipeline. The financials weren't great, but Momenta expects to achieve important clinical milestones in 2020. That was enough for investors. At market close on Monday, the pharma stock had settled to a 10.8% gain.Image source: Getty Images.Continue reading
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