Chiasma (NASDAQ:CHMA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Chiasma (NASDAQ:CHMA) from a buy rating to a hold rating in a research note published on Monday morning, Zacks.com reports.

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 brokerages have also weighed in on CHMA. HC Wainwright restated a buy rating and set a $11.00 price objective on shares of Chiasma in a research report on Tuesday, July 23rd. Cantor Fitzgerald set a $18.00 price target on shares of Chiasma and gave the company a buy rating in a report on Friday, September 13th. Piper Jaffray Companies initiated coverage on shares of Chiasma in a report on Wednesday, July 31st. They issued an overweight rating and a $11.00 price target for the company. ValuEngine downgraded shares of Chiasma from a hold rating to a sell rating in a report on Wednesday, October 2nd. Finally, Brookline Capital Management reaffirmed a buy rating on shares of Chiasma in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $12.30.

Shares of Chiasma stock opened at $5.09 on Monday. The firm has a market cap of $198.03 million, a price-to-earnings ratio of -3.98 and a beta of 1.18. The business has a 50-day moving average price of $5.09 and a 200-day moving average price of $6.00. Chiasma has a twelve month low of $2.11 and a twelve month high of $9.25.

Chiasma (NASDAQ:CHMA) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.04. Sell-side analysts forecast that Chiasma will post -1.09 earnings per share for the current fiscal year.

In other Chiasma news, Director Scott Minick purchased 9,818 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average price of $5.19 per share, with a total value of $50,955.42. Following the acquisition, the director now owns 62,531 shares in the company, valued at $324,535.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roni Mamluk sold 50,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $5.59, for a total transaction of $279,500.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $279,500. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 17,268 shares of company stock valued at $96,823. 8.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CHMA. Strs Ohio bought a new stake in Chiasma in the second quarter worth about $560,000. Quantitative Systematic Strategies LLC bought a new stake in Chiasma in the second quarter worth about $100,000. Altshuler Shaham Ltd lifted its stake in Chiasma by 143.2% in the second quarter. Altshuler Shaham Ltd now owns 101,953 shares of the biotechnology company’s stock worth $762,000 after purchasing an additional 60,026 shares during the last quarter. Wells Fargo & Company MN bought a new stake in Chiasma in the second quarter worth about $237,000. Finally, JPMorgan Chase & Co. lifted its stake in Chiasma by 242.8% in the second quarter. JPMorgan Chase & Co. now owns 73,139 shares of the biotechnology company’s stock worth $545,000 after purchasing an additional 51,806 shares during the last quarter. 52.97% of the stock is owned by institutional investors and hedge funds.

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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