Clementia Pharmaceuticals (NASDAQ:CMTA) had its target price cut by equities researchers at B. Riley from $25.00 to $16.00 in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 61.94% from the company’s previous close.
CMTA has been the subject of several other reports. Zacks Investment Research raised shares of Clementia Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Wedbush reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Clementia Pharmaceuticals in a research report on Friday, August 10th. Morgan Stanley decreased their price objective 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. Finally, ValuEngine raised shares of Clementia Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $24.60.
Shares of Clementia Pharmaceuticals stock opened at $9.88 on Wednesday. The company has a market capitalization of $285.46 million and a P/E ratio of -1.25. Clementia Pharmaceuticals has a 52 week low of $8.10 and a 52 week high of $20.15.
Institutional investors have recently made changes to their positions in the stock. Baker BROS. Advisors LP increased its holdings in Clementia Pharmaceuticals by 377.0% in the 2nd quarter. Baker BROS. Advisors LP now owns 1,192,595 shares of the company’s stock worth $15,695,000 after buying an additional 942,595 shares during the period. JPMorgan Chase & Co. increased its holdings in Clementia Pharmaceuticals by 5.5% in the 1st quarter. JPMorgan Chase & Co. now owns 744,869 shares of the company’s stock worth $11,285,000 after buying an additional 38,572 shares during the period. Artal Group S.A. acquired a new position in Clementia Pharmaceuticals in the 1st quarter worth approximately $3,030,000. Sphera Funds Management LTD. increased its holdings in Clementia Pharmaceuticals by 22.7% in the 1st quarter. Sphera Funds Management LTD. now owns 200,000 shares of the company’s stock worth $3,030,000 after buying an additional 37,000 shares during the period. Finally, DAFNA Capital Management LLC increased its holdings in Clementia Pharmaceuticals by 75.0% in the 1st quarter. DAFNA Capital Management LLC now owns 105,000 shares of the company’s stock worth $1,591,000 after buying an additional 45,000 shares during the period. 71.31% of the stock is owned by hedge funds and other institutional investors.
Clementia Pharmaceuticals Company Profile
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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