Catabasis Pharmaceuticals (CATB) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS
Catabasis Pharmaceuticals (NASDAQ:CATB) issued its earnings results on Tuesday. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02), Fidelity Earnings reports.
CATB traded up $0.43 on Wednesday, reaching $8.34. The stock had a trading volume of 78,205 shares, compared to its average volume of 99,049. Catabasis Pharmaceuticals has a fifty-two week low of $3.60 and a fifty-two week high of $17.60. The stock has a market cap of $91.73 million, a PE ratio of -1.63 and a beta of 1.72.
A number of brokerages have issued reports on CATB. ValuEngine raised Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Wedbush reaffirmed a “buy” rating and issued a $20.00 target price on shares of Catabasis Pharmaceuticals in a report on Monday, March 18th. Finally, Zacks Investment Research raised Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Monday, February 4th. Five research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $29.38.
About Catabasis Pharmaceuticals
Catabasis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics based on safely metabolized and rationally targeted (SMART) linker drug discovery platform in the United States. The company's lead product candidate is Edasalonexent, an oral small molecule that inhibits nuclear factor kappa-light-chain-enhancer of activate B cells, which is in Phase III clinical trial for the treatment of duchenne muscular dystrophy (DMD).
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