Zacks Investment Research downgraded shares of Clementia Pharmaceuticals (NASDAQ:CMTA) from a strong-buy rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Clementia Pharmaceuticals Inc. is a clinical stage biopharmaceutical company. It develops disease-modifying treatments for patients suffering from debilitating bone and other diseases. The company’s lead product consists of palovarotene, a novel RAR? agonist, to treat fibrodysplasia ossificans progressiva, multiple osteochondroma and other diseases. Clementia Pharmaceuticals Inc. is based in Montreal, Canada. “
A number of other equities analysts have also issued reports on CMTA. Wedbush reiterated an outperform rating and issued a $26.00 target price on shares of Clementia Pharmaceuticals in a research report on Friday, August 10th. Morgan Stanley decreased their target price on shares of Clementia Pharmaceuticals from $27.00 to $26.00 and set an overweight rating for the company in a research report on Monday, August 13th. Finally, B. Riley decreased their target price on shares of Clementia Pharmaceuticals from $25.00 to $16.00 and set a buy rating for the company in a research report on Wednesday, August 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Clementia Pharmaceuticals has a consensus rating of Buy and an average target price of $19.75.
Clementia Pharmaceuticals (NASDAQ:CMTA) last announced its earnings results on Thursday, August 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.09. On average, equities analysts forecast that Clementia Pharmaceuticals will post -1.56 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of CMTA. A.R.T. Advisors LLC bought a new position in shares of Clementia Pharmaceuticals during the 1st quarter valued at about $232,000. Birchview Capital LP boosted its position in shares of Clementia Pharmaceuticals by 78.9% during the 2nd quarter. Birchview Capital LP now owns 68,000 shares of the company’s stock valued at $895,000 after purchasing an additional 30,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Clementia Pharmaceuticals by 5.5% during the 1st quarter. JPMorgan Chase & Co. now owns 744,869 shares of the company’s stock valued at $11,285,000 after purchasing an additional 38,572 shares in the last quarter. Finally, Baker BROS. Advisors LP boosted its position in shares of Clementia Pharmaceuticals by 377.0% during the 2nd quarter. Baker BROS. Advisors LP now owns 1,192,595 shares of the company’s stock valued at $15,695,000 after purchasing an additional 942,595 shares in the last quarter. Institutional investors own 72.13% of the company’s stock.
About Clementia Pharmaceuticals
Clementia Pharmaceuticals Inc, a clinical stage biopharmaceutical company, develops treatments for patients suffering from bone disorders and other diseases. Its lead product candidate is palovarotene, an oral small molecule for the treatment of fibrodysplasia ossificans progressive, multiple osteochondromas, dry eye disease, and other diseases is in the Phase 3 MOVE Trial.
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