Chiasma (NASDAQ:CHMA) Upgraded to “Buy” by Zacks Investment Research

Chiasma (NASDAQ:CHMA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, reports. The firm presently has a $5.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.52% from the company’s previous close.

According to Zacks, “Chiasma, Inc. is a biopharmaceutical company. The company’s TPE(R) technology develops oral peptides and other molecules. Its primary product candidate consists of oral octreotide which is in different clinical trial. Chiasma, Inc. is based in Newton, USA. “

A number of other equities research analysts have also weighed in on CHMA. ValuEngine lowered shares of Chiasma from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Chiasma in a research note on Tuesday, July 23rd. Brookline Capital Management reaffirmed a “buy” rating on shares of Chiasma in a research report on Wednesday, July 24th. Piper Jaffray Companies assumed coverage on Chiasma in a research note on Wednesday, July 31st. They set an “overweight” rating and a $11.00 price target on the stock. Finally, Cantor Fitzgerald set a $18.00 price target on Chiasma and gave the company a “buy” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.35.

NASDAQ:CHMA traded up $0.20 during trading hours on Wednesday, hitting $5.25. 213,898 shares of the company were exchanged, compared to its average volume of 400,846. Chiasma has a 52-week low of $2.11 and a 52-week high of $9.25. The stock has a market capitalization of $215.67 million, a price-to-earnings ratio of -4.10 and a beta of 1.19. The company’s 50 day moving average price is $5.27 and its 200-day moving average price is $6.07.

Chiasma (NASDAQ:CHMA) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.04. As a group, equities research analysts predict that Chiasma will post -1.09 EPS for the current year.

In other Chiasma news, Director Scott Minick purchased 9,818 shares of the stock in a transaction on Tuesday, August 20th. The shares were bought at an average cost of $5.19 per share, with a total value of $50,955.42. Following the completion of the acquisition, the director now owns 62,531 shares in the company, valued at $324,535.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roni Mamluk sold 10,000 shares of Chiasma stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $6.35, for a total value of $63,500.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $63,500. The disclosure for this sale can be found here. Insiders own 8.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC purchased a new position in Chiasma during the fourth quarter valued at approximately $41,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Chiasma during the 2nd quarter valued at approximately $100,000. Cubist Systematic Strategies LLC lifted its stake in shares of Chiasma by 35.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 14,235 shares of the biotechnology company’s stock valued at $106,000 after purchasing an additional 3,722 shares during the period. Citadel Advisors LLC acquired a new position in shares of Chiasma in the 2nd quarter valued at $145,000. Finally, Invesco Ltd. acquired a new position in shares of Chiasma in the 2nd quarter valued at $186,000. Hedge funds and other institutional investors own 53.19% of the company’s stock.

About Chiasma

Chiasma, Inc, a clinical-stage biopharmaceutical company, focuses on developing oral medications using transient permeability enhancer technology platform for the treatment of rare and serious chronic disease in the United States, Europe, and internationally. The company offers oral octreotide capsules for adult patients under the MYCAPSSA name, which is in two Phase III clinical trials for the treatment of acromegaly, a condition that results in the body's production of excess growth hormone.

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