Catabasis Pharmaceuticals (NASDAQ:CATB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $1.75 target price on the biotechnology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.46% from the company’s previous close.

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. “

A number of other brokerages also recently issued reports on CATB. CIBC restated an “outperform” rating and issued a $7.00 price objective (up previously from $4.00) on shares of Catabasis Pharmaceuticals in a research note on Thursday, October 5th. Citigroup set a $3.50 price objective on Catabasis Pharmaceuticals and gave the company a “hold” rating in a research note on Thursday, October 5th. Oppenheimer upped their price objective on Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, October 5th. Cowen restated a “market perform” rating and issued a $2.00 price objective on shares of Catabasis Pharmaceuticals in a research note on Friday, October 6th. Finally, Wedbush restated an “outperform” rating and issued a $4.00 price objective on shares of Catabasis Pharmaceuticals in a research note on Friday, December 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Catabasis Pharmaceuticals has a consensus rating of “Buy” and an average price target of $4.82.

Shares of Catabasis Pharmaceuticals (CATB) traded down $0.04 during trading on Friday, reaching $1.57. The company had a trading volume of 281,634 shares, compared to its average volume of 319,075. Catabasis Pharmaceuticals has a 1-year low of $1.08 and a 1-year high of $5.51. The company has a market capitalization of $36.70 and a P/E ratio of -1.04.

Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.02. The company had revenue of $0.25 million for the quarter. sell-side analysts expect that Catabasis Pharmaceuticals will post -1.37 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of CATB. Renaissance Technologies LLC purchased a new position in shares of Catabasis Pharmaceuticals during the 1st quarter valued at $106,000. Oppenheimer & Co. Inc. lifted its position in shares of Catabasis Pharmaceuticals by 33.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock valued at $169,000 after buying an additional 30,000 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Catabasis Pharmaceuticals during the 2nd quarter valued at $271,000. Finally, Wedbush Securities Inc. lifted its position in shares of Catabasis Pharmaceuticals by 2,368.6% during the 3rd quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock valued at $534,000 after buying an additional 241,602 shares during the last quarter. 32.31% of the stock is currently owned by hedge funds and other institutional investors.

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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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