Cantor Fitzgerald initiated coverage with an "outperform" rating
The shares of Chiasma Inc (NASDAQ:CHMA) are modestly higher today, after the pharma stock scored a very bullish brokerage note. Specifically, Cantor Fitzgerald launched coverage of CHMA with an "outperform" rating and $18 price target -- more than three times the equity's current price, and in territory not charted in three years. The analyst waxed optimistic on the prospects for Chiasma's Mycapssa, and said the "current entry point [looks] attractive for investors."
At last check, CHMA stock was up 0.9% at $5.89, after soaring to a fresh two-year high of $6.14 out of the gate. The stock is now set for its highest close since a massive bear gap in April 2016 -- sparked by a Food and Drug Administration (FDA) rejection for the company's oral treatment for acromegaly -- and has already soared nearly 400% since bottoming at $1.20 in mid-August.
Chiasma stock is no stranger to bullish analyst attention, though. All four brokerage firms following CHMA deem it worthy of a "buy" or better, and the consensus 12-month price target of $14.25 represents expected upside of more than 140% to the equity's current price.
Short interest, meanwhile, is near 52-week lows. Less than 0.2% of CHMA's stock is dedicated to short interest, representing not even a day of pent-up buying demand, at the security's average pace of trading.