Zacks Investment Research Upgrades Catabasis Pharmaceuticals (CATB) to Buy
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.
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.
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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