Catabasis Pharmaceuticals, Inc. (CATB) Receives $5.42 Average Target Price from Brokerages
Shares of Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $5.42.
CATB has been the subject of a number of recent analyst reports. Cowen and Company restated a “market perform” rating and set a $2.00 price objective on shares of Catabasis Pharmaceuticals in a research note on Friday, October 6th. Oppenheimer Holdings, Inc. lowered their price objective on Catabasis Pharmaceuticals from $9.00 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, August 15th. HC Wainwright raised their price objective on Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, August 14th. CIBC restated an “outperform” rating and set a $7.00 price objective (up previously from $4.00) on shares of Catabasis Pharmaceuticals in a research note on Thursday, October 5th. Finally, Citigroup Inc. restated a “hold” rating and set a $1.50 price objective on shares of Catabasis Pharmaceuticals in a research note on Friday, September 29th.
Shares of Catabasis Pharmaceuticals (CATB) traded down 2.53% during trading on Wednesday, hitting $2.31. The stock had a trading volume of 265,534 shares. The company’s market cap is $51.93 million. The stock’s 50-day moving average price is $2.13 and its 200-day moving average price is $2.13. Catabasis Pharmaceuticals has a one year low of $1.08 and a one year high of $5.51.
Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its earnings results on Thursday, August 10th. The biotechnology company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.08. On average, equities research analysts forecast that Catabasis Pharmaceuticals will post ($1.39) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its stake in Catabasis Pharmaceuticals by 33.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock valued at $169,000 after purchasing an additional 30,000 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Catabasis Pharmaceuticals during the 1st quarter valued at approximately $106,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Catabasis Pharmaceuticals during the 2nd quarter valued at approximately $271,000. Hedge funds and other institutional investors own 32.90% of the company’s stock.
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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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