Catabasis Pharmaceuticals (CATB) Downgraded to “Hold” at Zacks Investment Research

Catabasis Pharmaceuticals (NASDAQ:CATB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

Other equities analysts have also recently issued research reports about the company. Citigroup set a $3.50 price objective on Catabasis Pharmaceuticals and gave the company a “hold” rating in a report on Thursday, October 5th. CIBC reissued an “outperform” rating and issued a $7.00 price objective (up previously from $4.00) on shares of Catabasis Pharmaceuticals in a report on Thursday, October 5th. Oppenheimer boosted their price objective on Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the company an “outperform” rating in a report on Thursday, October 5th. Wedbush reissued an “outperform” rating and issued a $4.00 price objective on shares of Catabasis Pharmaceuticals in a report on Friday, December 15th. Finally, Cowen reaffirmed a “market perform” rating and issued a $2.00 price target on shares of Catabasis Pharmaceuticals in a report on Friday, October 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $4.82.

Catabasis Pharmaceuticals (NASDAQ:CATB) traded up $0.01 during trading on Monday, reaching $1.51. The company’s stock had a trading volume of 184,756 shares, compared to its average volume of 236,878. The stock has a market cap of $34.86 and a P/E ratio of -1.00. Catabasis Pharmaceuticals has a twelve month low of $1.08 and a twelve month high of $4.30.

Catabasis Pharmaceuticals (NASDAQ:CATB) last issued its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. The company had revenue of $0.25 million during the quarter. research analysts predict that Catabasis Pharmaceuticals will post -1.38 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu KCG Holdings LLC acquired a new position in shares of Catabasis Pharmaceuticals during the second quarter valued at approximately $271,000. Wedbush Securities Inc. raised its holdings in shares of Catabasis Pharmaceuticals by 2,368.6% during the third quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock valued at $534,000 after acquiring an additional 241,602 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Catabasis Pharmaceuticals by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 49,000 shares during the last quarter. 32.38% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Catabasis Pharmaceuticals (CATB) Downgraded to “Hold” at Zacks Investment Research” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/01/29/catabasis-pharmaceuticals-catb-downgraded-to-hold-at-zacks-investment-research-3.html.

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.

Analyst Recommendations for Catabasis Pharmaceuticals (NASDAQ:CATB)

Receive News & Ratings for Catabasis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catabasis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply