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 (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.
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.
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