Catabasis Pharmaceuticals (CATB) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Catabasis Pharmaceuticals (NASDAQ:CATB) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. Zacks Investment Research currently has $1.75 target price 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. “
Several other research analysts also recently commented on CATB. Citigroup reaffirmed a hold rating and issued a $1.50 price target on shares of Catabasis Pharmaceuticals in a research note on Friday, September 29th. Oppenheimer raised their price target on shares of Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the stock an outperform rating in a research note on Thursday, October 5th. CIBC reaffirmed an outperform rating and issued a $7.00 price target (up previously from $4.00) on shares of Catabasis Pharmaceuticals in a research note on Thursday, October 5th. Cowen reaffirmed a market perform rating and issued a $2.00 price target on shares of Catabasis Pharmaceuticals in a research note on Friday, October 6th. Finally, Wedbush reaffirmed an outperform rating and issued a $4.00 price target on shares of Catabasis Pharmaceuticals in a research note on Friday, December 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $4.82.
Catabasis Pharmaceuticals (NASDAQ:CATB) last released its earnings results on Thursday, November 9th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. The firm had revenue of $0.25 million during the quarter. analysts anticipate that Catabasis Pharmaceuticals will post -1.38 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of CATB. Oppenheimer & Co. Inc. increased its stake in Catabasis Pharmaceuticals by 33.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock worth $169,000 after buying an additional 30,000 shares during the period. Virtu KCG Holdings LLC purchased a new position in Catabasis Pharmaceuticals during the 2nd quarter valued at about $271,000. Finally, Wedbush Securities Inc. increased its position in Catabasis Pharmaceuticals by 2,368.6% during the 3rd quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock valued at $534,000 after purchasing an additional 241,602 shares during the period. 32.31% of the stock is currently owned by 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock 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 stocks with our FREE daily email newsletter.