Zacks Investment Research cut shares of Clementia Pharmaceuticals (NASDAQ:CMTA) from a hold rating to a sell rating in a research report released on Tuesday morning.

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. “

CMTA has been the topic of a number of other research reports. Robert W. Baird assumed coverage on shares of Clementia Pharmaceuticals in a research note on Friday, January 18th. They issued an outperform rating and a $24.00 price objective on the stock. Bloom Burton reiterated a buy rating on shares of Clementia Pharmaceuticals in a research note on Sunday, December 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $20.60.

NASDAQ:CMTA opened at $14.67 on Tuesday. The firm has a market capitalization of $444.08 million, a PE ratio of -1.85 and a beta of -0.05. Clementia Pharmaceuticals has a 1-year low of $8.10 and a 1-year high of $19.58.

Large investors have recently added to or reduced their stakes in the company. Fosun International Ltd acquired a new stake in shares of Clementia Pharmaceuticals in the fourth quarter worth $2,627,000. JPMorgan Chase & Co. increased its stake in shares of Clementia Pharmaceuticals by 17.6% in the third quarter. JPMorgan Chase & Co. now owns 1,037,047 shares of the company’s stock worth $11,563,000 after acquiring an additional 155,336 shares during the period. Baker BROS. Advisors LP increased its stake in shares of Clementia Pharmaceuticals by 62.1% in the third quarter. Baker BROS. Advisors LP now owns 1,933,624 shares of the company’s stock worth $21,560,000 after acquiring an additional 741,029 shares during the period. Trexquant Investment LP acquired a new stake in shares of Clementia Pharmaceuticals in the third quarter worth $126,000. Finally, Opaleye Management Inc. acquired a new stake in shares of Clementia Pharmaceuticals in the third quarter worth $1,660,000. Hedge funds and other institutional investors own 76.81% of the company’s stock.

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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