Catabasis Pharmaceuticals, Inc. (CATB) Given a $3.50 Price Target at Citigroup Inc.

Citigroup Inc. set a $3.50 price target on Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) in a research note issued to investors on Thursday. The brokerage currently has a hold rating on the biotechnology company’s stock.

Several other research firms have also weighed in on CATB. Oppenheimer Holdings, Inc. lowered their target price on Catabasis Pharmaceuticals from $9.00 to $4.00 and set an outperform rating on the stock in a report on Tuesday, August 15th. HC Wainwright upped their target price on Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the company a buy rating in a report on Monday, August 14th. Finally, Wedbush reissued an outperform rating and issued a $4.00 target price on shares of Catabasis Pharmaceuticals in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Catabasis Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $5.42.

Shares of Catabasis Pharmaceuticals (NASDAQ:CATB) traded down 12.32% during midday trading on Thursday, reaching $2.49. 2,521,880 shares of the company’s stock traded hands. The company’s market capitalization is $55.98 million. Catabasis Pharmaceuticals has a 52 week low of $1.08 and a 52 week high of $5.51. The stock’s 50 day moving average is $1.98 and its 200-day moving average is $1.98.

Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its earnings results on Thursday, August 10th. The biotechnology company reported ($0.32) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.08. On average, analysts forecast that Catabasis Pharmaceuticals will post ($1.39) earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of Catabasis Pharmaceuticals during the first quarter valued at $106,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Catabasis Pharmaceuticals during the first quarter valued at $144,000. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Catabasis Pharmaceuticals during the second quarter valued at $271,000. 32.90% of the stock is currently owned by institutional investors and hedge funds.

Catabasis Pharmaceuticals Company Profile

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.

Analyst Recommendations for Catabasis Pharmaceuticals (NASDAQ:CATB)

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