Catabasis Pharmaceuticals (CATB) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Catabasis Pharmaceuticals (NASDAQ:CATB) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.93) by $0.08, MarketWatch Earnings reports.

NASDAQ CATB traded up $0.26 during trading hours on Friday, reaching $6.06. 3,225 shares of the company’s stock traded hands, compared to its average volume of 192,286. Catabasis Pharmaceuticals has a 52-week low of $3.60 and a 52-week high of $21.80. The stock has a market cap of $41.78 million, a P/E ratio of -0.46 and a beta of 1.64.

An institutional investor recently raised its position in Catabasis Pharmaceuticals stock. BlackRock Inc. lifted its stake in Catabasis Pharmaceuticals Inc (NASDAQ:CATB) by 140.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,293 shares of the biotechnology company’s stock after acquiring an additional 99,348 shares during the quarter. BlackRock Inc. owned 0.24% of Catabasis Pharmaceuticals worth $136,000 as of its most recent filing with the Securities & Exchange Commission. 33.59% of the stock is currently owned by institutional investors.

A number of research firms have recently weighed in on CATB. Zacks Investment Research downgraded shares of Catabasis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. ValuEngine cut shares of Catabasis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Oppenheimer increased their price target on shares of Catabasis Pharmaceuticals from $7.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, January 14th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Catabasis Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $31.38.

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About Catabasis Pharmaceuticals

Catabasis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics based on safely metabolized and rationally targeted (SMART) linker drug discovery platform in the United States. The company's lead product candidate is Edasalonexent, an oral small molecule, which completed Phase II clinical trial for the treatment of duchenne muscular dystrophy (DMD), as well as Phase I clinical trial for the treatment of additional rare diseases.

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Earnings History for Catabasis Pharmaceuticals (NASDAQ:CATB)

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