Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB)‘s stock had its “market perform” rating reissued by investment analysts at Cowen and Company in a report released on Friday. They currently have a $2.00 price objective on the biotechnology company’s stock. Cowen and Company’s target price indicates a potential downside of 29.33% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. CIBC reiterated an “outperform” rating and issued a $7.00 target price (up from $4.00) on shares of Catabasis Pharmaceuticals in a research note on Thursday. Oppenheimer Holdings, Inc. lifted their target price on shares of Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup Inc. set a $3.50 target price on shares of Catabasis Pharmaceuticals and gave the stock a “hold” rating in a research note on Thursday. HC Wainwright lifted their target price on shares of Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Wedbush reiterated an “outperform” rating and issued a $4.00 target price on shares of Catabasis Pharmaceuticals in a research note on Wednesday, June 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Catabasis Pharmaceuticals currently has an average rating of “Buy” and an average target price of $5.42.

Shares of Catabasis Pharmaceuticals (NASDAQ:CATB) traded down 8.45% on Friday, reaching $2.60. 1,699,519 shares of the company were exchanged. Catabasis Pharmaceuticals has a 52 week low of $1.08 and a 52 week high of $5.51. The stock’s market capitalization is $58.45 million. The firm’s 50 day moving average price is $1.98 and its 200 day moving average price is $1.98.

Catabasis Pharmaceuticals (NASDAQ:CATB) last released its earnings results on Thursday, August 10th. The biotechnology company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.08. Equities research analysts anticipate that Catabasis Pharmaceuticals will post ($1.39) EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in Catabasis Pharmaceuticals during the 1st quarter valued at approximately $106,000. Oppenheimer & Co. Inc. acquired a new stake in Catabasis Pharmaceuticals during the 1st quarter valued at approximately $144,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Catabasis Pharmaceuticals during the 2nd quarter valued at approximately $271,000. 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.

Analyst Recommendations for Catabasis Pharmaceuticals (NASDAQ:CATB)

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