Catabasis Pharmaceuticals (NASDAQ:CATB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $1.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 16.67% from the company’s current price.

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. “

Other equities research analysts have also issued research reports about the company. Citigroup set a $3.50 price target on Catabasis Pharmaceuticals and gave the stock a “hold” rating in a research note on Thursday, October 5th. CIBC reissued an “outperform” rating and set a $7.00 price target (up previously from $4.00) on shares of Catabasis Pharmaceuticals in a research note on Thursday, October 5th. Oppenheimer boosted their price target on Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, October 5th. Wedbush reissued an “outperform” rating and set a $4.00 price target on shares of Catabasis Pharmaceuticals in a research note on Friday, December 15th. Finally, Cowen reissued a “market perform” rating and set a $2.00 price target on shares of Catabasis Pharmaceuticals in a research note on Friday, October 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Catabasis Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $4.82.

Shares of Catabasis Pharmaceuticals (NASDAQ CATB) traded up $0.01 on Wednesday, reaching $1.50. The company’s stock had a trading volume of 141,902 shares, compared to its average volume of 206,049. Catabasis Pharmaceuticals has a 12 month low of $1.08 and a 12 month high of $5.51. The stock has a market cap of $34.62 and a price-to-earnings ratio of -0.99.

Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.31) earnings per share for the quarter, beating the Zacks’ 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 fiscal year.

Several large investors have recently made changes to their positions in CATB. Oppenheimer & Co. Inc. boosted its stake in shares of Catabasis Pharmaceuticals by 33.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock worth $169,000 after acquiring an additional 30,000 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Catabasis Pharmaceuticals during the 2nd quarter worth approximately $271,000. Finally, Wedbush Securities Inc. raised its position in shares of Catabasis Pharmaceuticals by 2,368.6% during 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. 32.31% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Zacks Investment Research Upgrades Catabasis Pharmaceuticals (CATB) to Buy” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.thecerbatgem.com/2018/01/17/zacks-investment-research-upgrades-catabasis-pharmaceuticals-catb-to-buy.html.

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.

Get a free copy of the Zacks research report on Catabasis Pharmaceuticals (CATB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Catabasis Pharmaceuticals (NASDAQ:CATB)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.