Clementia Pharmaceuticals’ (CMTA) “Outperform” Rating Reaffirmed at Wedbush

Clementia Pharmaceuticals Inc. (NASDAQ:CMTA)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued on Tuesday. They currently have a $26.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 58.34% from the company’s current price.

Other analysts have also issued reports about the stock. BTIG Research assumed coverage on shares of Clementia Pharmaceuticals in a research report on Thursday, August 31st. They set a “buy” rating and a $32.00 price target for the company. Morgan Stanley assumed coverage on shares of Clementia Pharmaceuticals in a research report on Monday, August 28th. They set an “overweight” rating and a $27.00 price target for the company. Finally, Leerink Swann assumed coverage on shares of Clementia Pharmaceuticals in a research report on Monday, August 28th. They set an “outperform” rating and a $23.00 price target for the company.

Shares of Clementia Pharmaceuticals (CMTA) traded down $0.58 during trading hours on Tuesday, reaching $16.42. 24,600 shares of the company traded hands, compared to its average volume of 114,447. Clementia Pharmaceuticals has a one year low of $15.05 and a one year high of $18.95.

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Hedge funds have recently added to or reduced their stakes in the stock. Birchview Capital LP bought a new position in shares of Clementia Pharmaceuticals during the third quarter valued at approximately $372,000. Sectoral Asset Management Inc bought a new position in shares of Clementia Pharmaceuticals during the third quarter valued at approximately $512,000. Victory Capital Management Inc. bought a new position in shares of Clementia Pharmaceuticals during the third quarter valued at approximately $520,000. Alyeska Investment Group L.P. bought a new position in shares of Clementia Pharmaceuticals during the third quarter valued at approximately $1,351,000. Finally, Citadel Advisors LLC bought a new position in shares of Clementia Pharmaceuticals during the third quarter valued at approximately $2,061,000. 7.27% of the stock is owned by institutional investors.

Clementia Pharmaceuticals Company Profile

Clementia Pharmaceuticals Inc is a clinical stage biopharmaceutical company. The Company is engaged in developing disease-modifying treatments for patients suffering from debilitating bone and other diseases with high unmet medical need. Its lead product candidate, palovarotene, is an oral small molecule that binds and activates retinoic acid receptor gamma (an RARg agonist), and has activity in preventing abnormal new bone formation as well as scar tissue formation (or fibrosis) in a variety of tissues in animal models.

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