Catabasis Pharmaceuticals, Inc. (CATB) Earns Outperform Rating from CIBC
Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB)‘s stock had its “outperform” rating restated by investment analysts at CIBC in a research report issued on Thursday. They presently have a $7.00 price objective on the biotechnology company’s stock, up from their prior price objective of $4.00. CIBC’s target price suggests a potential upside of 131.02% from the stock’s previous close.
CATB has been the subject of several other research reports. Wedbush reiterated an “outperform” rating and issued a $4.00 price objective on shares of Catabasis Pharmaceuticals in a research report on Wednesday, June 21st. Oppenheimer Holdings, Inc. cut their price objective on Catabasis Pharmaceuticals from $9.00 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, August 15th. HC Wainwright increased their price objective on Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Finally, Citigroup Inc. reiterated a “hold” rating and issued a $1.50 price objective on shares of Catabasis Pharmaceuticals in a research report on Friday, September 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $5.75.
Shares of Catabasis Pharmaceuticals (NASDAQ:CATB) traded down 8.58% during midday trading on Thursday, reaching $2.77. 5,375,874 shares of the company traded hands. Catabasis Pharmaceuticals has a 1-year low of $1.08 and a 1-year high of $5.74. The stock’s market capitalization is $62.27 million. The stock’s 50-day moving average is $1.93 and its 200-day moving average is $1.93.
Catabasis Pharmaceuticals (NASDAQ:CATB) last issued its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.32) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.08. Equities analysts predict that Catabasis Pharmaceuticals will post ($1.39) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. purchased a new position in Catabasis Pharmaceuticals in the first quarter worth $144,000. Renaissance Technologies LLC purchased a new position in Catabasis Pharmaceuticals in the first quarter worth $106,000. Finally, Virtu KCG Holdings LLC purchased a new position in Catabasis Pharmaceuticals in the second quarter worth $271,000. Hedge funds and other institutional investors own 32.90% of the company’s stock.
About Catabasis Pharmaceuticals
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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