Clementia Pharmaceuticals (CMTA) Downgraded by Zacks Investment Research to “Sell”

Clementia Pharmaceuticals (NASDAQ:CMTA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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 analysts also recently commented on the company. B. Riley reduced their target price on Clementia Pharmaceuticals from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 15th. Morgan Stanley reduced their target price on Clementia Pharmaceuticals from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, August 13th. Finally, Wedbush reissued an “outperform” rating and issued a $26.00 target price on shares of Clementia Pharmaceuticals in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $19.75.

Shares of CMTA stock traded up $0.59 during trading hours on Thursday, hitting $14.00. The company had a trading volume of 31,600 shares, compared to its average volume of 87,904. Clementia Pharmaceuticals has a 12 month low of $8.10 and a 12 month high of $20.15. The firm has a market cap of $412.33 million, a P/E ratio of -1.77 and a beta of -2.07.

Clementia Pharmaceuticals (NASDAQ:CMTA) last announced its earnings results on Wednesday, November 7th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.04). On average, research analysts expect that Clementia Pharmaceuticals will post -1.54 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Baker BROS. Advisors LP boosted its holdings 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 worth $15,695,000 after acquiring an additional 942,595 shares in the last quarter. Birchview Capital LP lifted its holdings in Clementia Pharmaceuticals by 79.4% during the 3rd quarter. Birchview Capital LP now owns 122,000 shares of the company’s stock worth $1,360,000 after buying an additional 54,000 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Clementia Pharmaceuticals by 17.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,037,047 shares of the company’s stock worth $11,563,000 after buying an additional 155,336 shares in the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

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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