Wedbush Reiterates “Outperform” Rating for Catabasis Pharmaceuticls Inc. (CATB)
Catabasis Pharmaceuticls Inc. (NASDAQ:CATB)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a research note issued to investors on Thursday. They currently have a $17.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 249.79% from the company’s previous close.
Separately, Zacks Investment Research raised Catabasis Pharmaceuticls from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $19.05.
Catabasis Pharmaceuticls (NASDAQ:CATB) traded up 3.18% during mid-day trading on Thursday, reaching $4.86. The company’s stock had a trading volume of 152,966 shares. The company has a 50 day moving average of $4.77 and a 200-day moving average of $4.74. Catabasis Pharmaceuticls has a 52-week low of $3.31 and a 52-week high of $10.83. The stock’s market cap is $74.75 million.
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Catabasis Pharmaceuticls (NASDAQ:CATB) last posted its earnings results on Thursday, August 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.04. Equities analysts forecast that Catabasis Pharmaceuticls will post ($2.47) earnings per share for the current year.
An institutional investor recently bought a new position in Catabasis Pharmaceuticls stock. Bridgeway Capital Management Inc. acquired a new stake in shares of Catabasis Pharmaceuticls Inc. (NASDAQ:CATB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,700 shares of the company’s stock, valued at approximately $102,000. Bridgeway Capital Management Inc. owned 0.18% of Catabasis Pharmaceuticls at the end of the most recent reporting period. Institutional investors and hedge funds own 57.27% of the company’s stock.
Catabasis Pharmaceuticls 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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