Zacks Investment Research upgraded shares of Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) from a hold rating to a buy rating in a research note published on Thursday. They currently have $1.75 price objective on the biotechnology company’s stock.
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. “
CATB has been the subject of a number of other research reports. Cowen and Company reissued a market perform rating and set a $2.00 target price on shares of Catabasis Pharmaceuticals in a research report on Friday, October 6th. Oppenheimer Holdings, Inc. cut their target price on shares of Catabasis Pharmaceuticals from $9.00 to $4.00 and set an outperform rating for the company in a research report on Tuesday, August 15th. HC Wainwright boosted their target price on shares of Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the stock a buy rating in a research report on Monday, August 14th. CIBC reissued an outperform rating and set a $7.00 target price (up previously from $4.00) on shares of Catabasis Pharmaceuticals in a research report on Thursday, October 5th. Finally, Citigroup Inc. reissued a hold rating and set a $1.50 target price on shares of Catabasis Pharmaceuticals in a research report on Friday, September 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $4.89.
Catabasis Pharmaceuticals (NASDAQ:CATB) last released its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.02. The business had revenue of $0.25 million during the quarter. research analysts forecast that Catabasis Pharmaceuticals will post -1.42 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in CATB. Renaissance Technologies LLC acquired a new position in shares of Catabasis Pharmaceuticals during the first quarter valued at about $106,000. Oppenheimer & Co. Inc. raised its position in shares of Catabasis Pharmaceuticals by 33.3% during the second quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock valued at $169,000 after buying an additional 30,000 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Catabasis Pharmaceuticals during the second quarter valued at about $271,000. Finally, Wedbush Securities Inc. raised its position 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 buying an additional 241,602 shares during the last quarter. 32.53% of the stock is owned by institutional investors and hedge funds.
Catabasis Pharmaceuticals Company Profile
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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