Catabasis Pharmaceuticals (CATB) Upgraded at Zacks Investment Research

Catabasis Pharmaceuticals (NASDAQ:CATB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, January 5th. The firm currently has a $1.75 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.90% from the stock’s current price.

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. “

Other equities research analysts have also recently issued reports about the stock. Citigroup set a $3.50 price target on shares of Catabasis Pharmaceuticals and gave the stock a “hold” rating in a report on Thursday, October 5th. CIBC reaffirmed an “outperform” rating and issued a $7.00 price objective (up from $4.00) on shares of Catabasis Pharmaceuticals in a research note on Thursday, October 5th. Oppenheimer raised their price objective on shares of Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, October 5th. Wedbush reaffirmed an “outperform” rating and issued a $4.00 price objective on shares of Catabasis Pharmaceuticals in a research note on Friday, December 15th. Finally, Cowen reaffirmed a “market perform” rating and issued a $2.00 price objective on shares of Catabasis Pharmaceuticals in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $4.82.

Shares of Catabasis Pharmaceuticals (NASDAQ CATB) opened at $1.55 on Friday. The firm has a market cap of $35.78 and a price-to-earnings ratio of -1.03. Catabasis Pharmaceuticals has a 12-month low of $1.08 and a 12-month high of $5.00.

Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.02. The company had revenue of $0.25 million during the quarter. equities research analysts expect that Catabasis Pharmaceuticals will post -1.38 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in CATB. Renaissance Technologies LLC bought a new position in shares of Catabasis Pharmaceuticals in the first quarter valued at $106,000. Oppenheimer & Co. Inc. lifted its position in shares of Catabasis Pharmaceuticals by 33.3% during the second quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock valued at $169,000 after purchasing an additional 30,000 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Catabasis Pharmaceuticals during the second quarter valued at about $271,000. Finally, Wedbush Securities Inc. lifted its position 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 in the last quarter. 32.31% of the stock is currently owned by hedge funds and other institutional investors.

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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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