Oppenheimer Holdings, Inc. Raises Catabasis Pharmaceuticals, Inc. (CATB) Price Target to $7.00
Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) had its price target boosted by equities researchers at Oppenheimer Holdings, Inc. from $4.00 to $7.00 in a report issued on Thursday. The firm currently has an “outperform” rating on the biotechnology company’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 131.02% from the stock’s current price.
Several other equities research analysts have also issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $4.00 price target on shares of Catabasis Pharmaceuticals in a research note on Wednesday, June 21st. HC Wainwright lifted their price target on Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Citigroup Inc. reaffirmed a “hold” rating and set a $1.50 price target on shares of Catabasis Pharmaceuticals in a research note on Friday, September 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.10.
Catabasis Pharmaceuticals (NASDAQ:CATB) opened at 3.03 on Thursday. Catabasis Pharmaceuticals has a 52-week low of $1.08 and a 52-week high of $5.74. The company’s market capitalization is $68.12 million. The firm has a 50-day moving average price of $1.93 and a 200 day moving average price of $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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.08. On average, analysts predict that Catabasis Pharmaceuticals will post ($1.39) earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the business. Virtu KCG Holdings LLC bought a new stake in Catabasis Pharmaceuticals during the second quarter worth about $271,000. Oppenheimer & Co. Inc. lifted its stake in Catabasis Pharmaceuticals by 33.3% during the second quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Catabasis Pharmaceuticals during the first quarter worth about $106,000. 32.90% of the stock is owned by hedge funds and other institutional investors.
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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