Catabasis Pharmaceuticals’ (CATB) “Outperform” Rating Reiterated at Wedbush

Catabasis Pharmaceuticals (NASDAQ:CATB)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a note issued to investors on Wednesday. They presently have a $4.00 price target on the biotechnology company’s stock, down from their previous price target of $5.00. Wedbush’s price objective would indicate a potential upside of 187.77% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Catabasis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Citigroup raised shares of Catabasis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $3.00 price objective for the company in a report on Monday, November 20th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $4.82.

Catabasis Pharmaceuticals (NASDAQ CATB) traded down $0.17 during midday trading on Wednesday, hitting $1.39. 3,141,986 shares of the stock traded hands, compared to its average volume of 1,110,000. The firm has a market capitalization of $32.09 and a price-to-earnings ratio of -0.92. Catabasis Pharmaceuticals has a 12 month low of $1.09 and a 12 month high of $3.78.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in shares of Catabasis Pharmaceuticals by 167.2% during the fourth quarter. Renaissance Technologies LLC now owns 468,700 shares of the biotechnology company’s stock worth $698,000 after buying an additional 293,300 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of Catabasis Pharmaceuticals by 2,368.6% during the third quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock valued at $534,000 after purchasing an additional 241,602 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Catabasis Pharmaceuticals during the fourth quarter valued at approximately $335,000. Virtu KCG Holdings LLC bought a new stake in shares of Catabasis Pharmaceuticals during the second quarter valued at approximately $271,000. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Catabasis Pharmaceuticals by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 49,000 shares during the last quarter. 32.38% of the stock is owned by 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.

Analyst Recommendations for Catabasis Pharmaceuticals (NASDAQ:CATB)

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