 Johnson Johnson JNJ has agreed to buy Momenta Pharma MNTA, a biotech focused on discovering and developing novel biologic therapeutics for rare immune-mediated diseases, for 52.50 per share in an all-cash transaction.This implies a fully-diluted equity value of 6.5 billion- and represents a 70 premium from Momentas closing price on August 18 of 30.81. Shares in Momenta are now surging 70 in Wednesdays pre-market trading.The agreement was unanimously approved by the Boards of Directors of both Momenta and Johnson Johnson.Programs such as nipocalimab have the potential to improve the lives of countless patients suffering from autoimmune and fetal maternal diseases, said Craig Wheeler, CEO of Momenta. I believe JJ is the right company to advance our portfolio of novel drug candidates for autoimmune and rare diseases.The transaction is expected to close in the second half of 2020, and until then Momenta will operate as a separate and independent company.Indeed, Momenta scores a bullish Strong Buy Street consensus, with seven recent buy ratings vs 2 hold ratings. Similarly, JNJ scores only buy ratings from the Street giving it a Strong Buy consensus. Its average analyst price target of 167 indicates 11 upside potential lies ahead, with shares up 3 year-to-date.HC Wainwright analyst Douglas Tsao is optimistic about the outlook for Momentas pipeline, noting that the company has now completed enrollment in part B of a Phase 12 study for M254 in idiopathic thrombocytopenic purpura ITP.Given the strong preclinical data, and what we have seen from earlier trial readouts, we remain confident in M254s success he commented on August 11. And in respect of nipocalimab, he notes that it is poised for key catalysts in the near term with a pivotal trial in myasthenia gravis MG to initiate in 1Q21.Tsao writes: Though nipocalimab wont be the first to market in MG, we envision its best in class anti-FcRn lowering, and fast IV infusion expected on a fixed schedule, to result in eventual market leadership.See JNJ stock analysis on TipRanks.Related News: Gilead Sinks After-Hours As FDA Rejects Arthritis Application Verona Up 10 On Lung Trial Kick Off; Analyst Initiates Stock At Buy Inovio: Valuation and Volatility Keep This Analyst Sidelined More recent articles from Smarter Analyst: GFL Environment Rebukes Spruce Points Debt Claims; Shares Rise KBR To Buy Space Contractor Centauri For 800M; Shares Pop 6 Blackstone Set To Win Bid For Takedas Consumer Health Unit - Report Lowes Delivers Blowout Q2 As Online Sales Surge 135 