Zacks Investment Research Lowers Catabasis Pharmaceuticals (CATB) to Hold

Zacks Investment Research cut shares of Catabasis Pharmaceuticals (NASDAQ:CATB) from a buy rating to a hold rating in a report published on Tuesday morning.

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. “

CATB has been the subject of several other reports. Wedbush reiterated an outperform rating and set a $4.00 price target on shares of Catabasis Pharmaceuticals in a research report on Friday, December 15th. Citigroup upgraded Catabasis Pharmaceuticals from a neutral rating to a buy rating and set a $3.00 price objective for the company in a research report on Monday, November 20th. Cowen restated a market perform rating and issued a $2.00 price objective on shares of Catabasis Pharmaceuticals in a research report on Friday, October 6th. Oppenheimer lifted 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. Finally, CIBC reissued an outperform rating and set a $7.00 price objective (up previously from $4.00) on shares of Catabasis Pharmaceuticals in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $4.82.

Catabasis Pharmaceuticals (CATB) traded up $0.04 during trading on Tuesday, hitting $1.61. The company had a trading volume of 261,900 shares, compared to its average volume of 331,567. Catabasis Pharmaceuticals has a 12-month low of $1.08 and a 12-month high of $5.51. The firm has a market capitalization of $37.16 and a P/E ratio of -1.07.

Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.02. The company had revenue of $0.25 million for the quarter. equities analysts expect that Catabasis Pharmaceuticals will post -1.37 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in CATB. Renaissance Technologies LLC acquired a new stake in shares of Catabasis Pharmaceuticals in the 1st quarter valued at about $106,000. Oppenheimer & Co. Inc. lifted its position in 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 during the period. Virtu KCG Holdings LLC acquired a new stake in Catabasis Pharmaceuticals during the 2nd quarter worth approximately $271,000. Finally, Wedbush Securities Inc. lifted 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 worth $534,000 after acquiring an additional 241,602 shares during the period. 32.31% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.chaffeybreeze.com/2018/01/05/zacks-investment-research-lowers-catabasis-pharmaceuticals-catb-to-hold.html.

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.

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.

Latest News

Leave a Reply