Piper Jaffray analyst Danielle Brill maintained an Overweight rating and $35 price target on Momenta following the company's Q1 results, saying Momenta continued to advance its pipeline in the quarter, initiating Phase 2 trials with M281, its anti-FcRn candidate, in hemolytic disease of the fetus and newborn and myasthenia gravis, as well as a Phase 1/2 proof-of-concept trial of M254, a hyper-sialyated IVIG, for idiopathic thrombocytopenic purpura, adding that all trials are reportedly progressing as planned. Brill says she remains "bullish" on Momenta, and notes significant unrealized pipeline value even though proof-of-concept data are now less than 12 months out.