Catabasis Pharmaceuticals (NASDAQ:CATB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $1.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.64% from the company’s previous close.
According to Zacks, “Catabasis Pharmaceuticals, Inc. is a biopharmaceutical company. The Company focuses on the discovery, development and commercialization of therapeutics for treatment of inflammatory, immunological and metabolic diseases. Its product development pipeline includes CAT-1004, CAT-2000 series including CAT-2054 and CAT-2003, CAT-4001 as well as various programs which are in different clinical-stage. Catabasis Pharmaceuticals, Inc. is based in Cambridge, Massachusetts. “
Several other research analysts have also recently commented on CATB. Citigroup reissued a “hold” rating and set a $1.50 target price on shares of Catabasis Pharmaceuticals in a research note on Friday, September 29th. Oppenheimer boosted their target price on Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, October 5th. CIBC reissued an “outperform” rating and set a $7.00 target price (up from $4.00) on shares of Catabasis Pharmaceuticals in a research note on Thursday, October 5th. Cowen reissued a “market perform” rating and set a $2.00 target price on shares of Catabasis Pharmaceuticals in a research note on Friday, October 6th. Finally, Wedbush reissued an “outperform” rating and set a $4.00 target price on shares of Catabasis Pharmaceuticals in a research note on Friday, December 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Catabasis Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $4.82.
Shares of Catabasis Pharmaceuticals (NASDAQ:CATB) opened at $1.54 on Thursday. The stock has a market capitalization of $35.55, a price-to-earnings ratio of -1.02 and a beta of 1.26. Catabasis Pharmaceuticals has a 1-year low of $1.08 and a 1-year high of $5.51.
Catabasis Pharmaceuticals (NASDAQ:CATB) last released its earnings results on Thursday, November 9th. The biotechnology company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. The company had revenue of $0.25 million for the quarter. analysts expect that Catabasis Pharmaceuticals will post -1.38 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in CATB. Wedbush Securities Inc. boosted its position in shares of Catabasis Pharmaceuticals by 2,368.6% during the 3rd quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock worth $534,000 after acquiring an additional 241,602 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Catabasis Pharmaceuticals in the 2nd quarter valued at about $271,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Catabasis Pharmaceuticals by 40.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 49,000 shares during the last quarter. 32.31% of the stock is owned by institutional investors and hedge funds.
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About Catabasis Pharmaceuticals
Catabasis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics based on its Safely Metabolized And Rationally Targeted (SMART), a linker drug discovery platform. The SMART linker drug discovery platform enables to engineer product candidates that can modulate multiple targets in a disease.
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