Catabasis Pharmaceuticals, Inc. (CATB) Price Target Raised to $7.00

Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) had its target price boosted by Oppenheimer Holdings, Inc. from $4.00 to $7.00 in a report issued on Thursday morning, Marketbeat Ratings reports. They currently have an outperform rating on the biotechnology company’s stock.

A number of other analysts have also issued reports on CATB. Citigroup Inc. restated a hold rating and set a $1.50 target price on shares of Catabasis Pharmaceuticals in a research report on Friday, September 29th. HC Wainwright raised their target price on shares of Catabasis Pharmaceuticals from $8.00 to $9.00 and gave the stock a buy rating in a research report on Monday, August 14th. Finally, Wedbush restated an outperform rating and set a $4.00 target price on shares of Catabasis Pharmaceuticals in a research report on Wednesday, June 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Catabasis Pharmaceuticals currently has a consensus rating of Buy and an average target price of $5.42.

Catabasis Pharmaceuticals (CATB) traded down 12.32% during mid-day trading on Thursday, hitting $2.49. 2,521,880 shares of the stock traded hands. The stock’s 50 day moving average is $2.00 and its 200-day moving average is $2.00. The company’s market cap is $55.98 million. Catabasis Pharmaceuticals has a 12 month low of $1.08 and a 12 month high of $5.51.

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

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Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of Catabasis Pharmaceuticals in the 1st quarter valued at $106,000. Oppenheimer & Co. Inc. acquired a new position in shares of Catabasis Pharmaceuticals in the 1st quarter valued at $144,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of Catabasis Pharmaceuticals in the 2nd quarter valued at $271,000. Institutional investors own 32.90% of the company’s stock.

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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