Catabasis Pharmaceuticals, Inc. (CATB) Given “Outperform” Rating at CIBC
CIBC restated their outperform rating on shares of Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) in a research report sent to investors on Thursday. They currently have a $7.00 price objective on the biotechnology company’s stock, up from their prior price objective of $4.00.
A number of other research firms have also recently commented on CATB. Oppenheimer Holdings, Inc. raised their price target on Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the company an outperform rating in a report on Thursday. Citigroup Inc. set a $3.50 price target on Catabasis Pharmaceuticals and gave the company a hold rating in a report on Thursday. Wedbush reissued an outperform rating and set a $4.00 price target on shares of Catabasis Pharmaceuticals in a report on Wednesday, June 21st. Finally, HC Wainwright raised their price target on Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the company a buy rating in a report on Monday, August 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $5.42.
Catabasis Pharmaceuticals (CATB) opened at 2.49 on Thursday. Catabasis Pharmaceuticals has a 52-week low of $1.08 and a 52-week high of $5.51. The stock’s market capitalization is $55.98 million. The company’s 50-day moving average price is $2.00 and its 200 day moving average price is $2.00.
Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.32) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.40) by $0.08. Equities analysts forecast that Catabasis Pharmaceuticals will post ($1.39) EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new stake in shares of Catabasis Pharmaceuticals in the first quarter worth about $144,000. Renaissance Technologies LLC bought a new stake in shares of Catabasis Pharmaceuticals in the first quarter worth about $106,000. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Catabasis Pharmaceuticals in the second quarter worth about $271,000. 32.90% of the stock is currently owned by hedge funds and other institutional investors.
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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