Chiasma (NASDAQ:CHMA) Downgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of Chiasma (NASDAQ:CHMA) from a buy rating to a hold rating in a report released on Tuesday 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 equities research analysts have also weighed in on CHMA. Cantor Fitzgerald set a $18.00 price objective on Chiasma and gave the stock a buy rating in a research report on Friday, June 28th. Brookline Capital Management reiterated a buy rating on shares of Chiasma in a research report on Wednesday, July 24th. ValuEngine lowered Chiasma from a buy rating to a hold rating in a research report on Thursday, August 1st. HC Wainwright reiterated a buy rating and issued a $11.00 price objective on shares of Chiasma in a research report on Tuesday, July 23rd. Finally, Piper Jaffray Companies started coverage on Chiasma in a research report on Wednesday, July 31st. They issued an overweight rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $12.30.

Shares of CHMA stock opened at $5.18 on Tuesday. The firm has a market cap of $229.83 million, a P/E ratio of -4.05 and a beta of 1.18. Chiasma has a fifty-two week low of $2.11 and a fifty-two week high of $9.25. The business’s 50 day moving average price is $5.82 and its 200-day moving average price is $5.93.

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, topping the Zacks’ consensus estimate of ($0.29) by $0.04. On average, research analysts forecast that Chiasma will post -1.09 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new stake in shares of Chiasma during the fourth quarter valued at approximately $41,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Chiasma during the second quarter valued at approximately $100,000. Cubist Systematic Strategies LLC boosted its position in shares of Chiasma by 35.4% during the second 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 in the last quarter. Citadel Advisors LLC bought a new stake in shares of Chiasma during the second quarter valued at approximately $145,000. Finally, Invesco Ltd. bought a new stake in shares of Chiasma during the second quarter valued at approximately $186,000. Institutional investors own 73.17% 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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