Zacks Investment Research Downgrades Catabasis Pharmaceuticals (CATB) to Hold

Zacks Investment Research downgraded shares of Catabasis Pharmaceuticals (NASDAQ:CATB) from a buy rating to a hold rating in a research note issued to investors 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. “

Several other brokerages also recently commented on CATB. CIBC reissued an outperform rating and issued a $7.00 target price (up from $4.00) on shares of Catabasis Pharmaceuticals in a report on Thursday, October 5th. Oppenheimer boosted their target price on Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the stock an outperform rating in a report on Thursday, October 5th. Cowen reissued a market perform rating and issued a $2.00 target price on shares of Catabasis Pharmaceuticals in a report on Friday, October 6th. Citigroup set a $3.50 target price on Catabasis Pharmaceuticals and gave the stock a hold rating in a report on Thursday, October 5th. Finally, Wedbush reissued an outperform rating and issued a $4.00 target price on shares of Catabasis Pharmaceuticals in a report on Friday, December 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $4.82.

Catabasis Pharmaceuticals (CATB) opened at $1.51 on Monday. The company has a market capitalization of $34.86 and a P/E ratio of -1.00. Catabasis Pharmaceuticals has a 1-year low of $1.08 and a 1-year high of $4.05.

Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its earnings results on Thursday, November 9th. The biotechnology company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.02. The business had revenue of $0.25 million during the quarter. equities research analysts anticipate that Catabasis Pharmaceuticals will post -1.38 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Wedbush Securities Inc. raised its position in Catabasis Pharmaceuticals by 2,368.6% in the 3rd quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock worth $534,000 after purchasing an additional 241,602 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in Catabasis Pharmaceuticals in the 2nd quarter worth approximately $271,000. Finally, Oppenheimer & Co. Inc. raised its position in Catabasis Pharmaceuticals by 40.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock worth $358,000 after purchasing an additional 49,000 shares during the last quarter. Hedge funds and other institutional investors own 32.38% of the company’s stock.

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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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