Cantor Fitzgerald analyst Brandon Folkes initiated coverage with a Buy rating on Chiasma (CHMA) today and set a price target of $18. The company’s shares opened today at $6.20, close to its 52-week high of $6.35.
Folkes said:
“: Post 4Q18, we are reiterating our Overweight rating and $18 PT on CHMA. We recently launched coverage of CHMA shares, and believe the stock continues to trade at a significant discount to its potential intrinsic value. We believe the risk-reward going into Phase 3 data for Mycapssa (oral octreotide) for the treatment of acromegaly, to be released in 3Q19, remains positive. As the company advances Mycapssa toward approval, we expect data readouts, approvals, and upward earnings revisions to drive CHMA’s stock higher.”
According to TipRanks.com, Folkes is a 3-star analyst with an average return of 2.9% and a 43.2% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
Chiasma has an analyst consensus of Strong Buy, with a price target consensus of $14.25, representing a 129.8% upside. In a report issued on March 8, H.C. Wainwright also maintained a Buy rating on the stock with a $11 price target.
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Based on Chiasma’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.08 million. In comparison, last year the company had a GAAP net loss of $6.1 million.
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Chiasma, Inc. operates as a clinical-stage biopharmaceutical company, which engages in developing and commercializing oral forms of therapies that are available by injection. Its products include octreotide capsules and clinical trials. The company’s Transient Permeability Enhancer (TPE) technology platform, seeks to develop oral medications.
