Zacks Investment Research downgraded shares of Clementia Pharmaceuticals (NASDAQ:CMTA) from a strong-buy rating to a hold rating in a research report sent to investors 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. “
Several other research firms also recently weighed in on CMTA. Wedbush reissued an outperform rating and set a $26.00 target price on shares of Clementia Pharmaceuticals in a research report on Friday, August 10th. Morgan Stanley dropped their target price on shares of Clementia Pharmaceuticals from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Monday, August 13th. Finally, B. Riley dropped their target price on shares of Clementia Pharmaceuticals from $25.00 to $16.00 and set a buy rating on the stock in a research report on Wednesday, August 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $19.75.
NASDAQ:CMTA opened at $9.60 on Tuesday. The company has a market cap of $313.06 million, a price-to-earnings ratio of -1.21 and a beta of -1.91. Clementia Pharmaceuticals has a twelve month low of $8.10 and a twelve month high of $20.15.
Clementia Pharmaceuticals (NASDAQ:CMTA) last released its earnings results on Thursday, August 9th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.09. As a group, equities analysts expect that Clementia Pharmaceuticals will post -1.54 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. A.R.T. Advisors LLC acquired a new position in shares of Clementia Pharmaceuticals in the 1st quarter valued at $232,000. Birchview Capital LP lifted its stake in shares of Clementia Pharmaceuticals by 78.9% in 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 during the period. JPMorgan Chase & Co. lifted its stake in shares of Clementia Pharmaceuticals by 5.5% in 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 during the period. Finally, Baker BROS. Advisors LP lifted its stake in shares of Clementia Pharmaceuticals by 377.0% in 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 during the period. Institutional investors and hedge funds 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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