Catabasis Pharmaceuticals (NASDAQ:CATB)‘s stock had its “buy” rating reissued by investment analysts at Wedbush in a research note issued on Friday, AnalystRatings.com reports. They presently have a $18.00 price objective on the biotechnology company’s stock. Wedbush’s price objective would suggest a potential upside of 119.51% from the company’s current price.
CATB has been the subject of a number of other research reports. Zacks Investment Research downgraded Catabasis Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. ValuEngine downgraded Catabasis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Five research analysts have rated the stock with a buy rating, Catabasis Pharmaceuticals has an average rating of “Buy” and an average target price of $28.88.
Shares of CATB traded down $0.05 during trading hours on Friday, reaching $8.20. 6,339 shares of the company’s stock traded hands, compared to its average volume of 91,323. The company has a market cap of $96.49 million, a PE ratio of -1.60 and a beta of 1.72. The company has a current ratio of 12.25, a quick ratio of 9.33 and a debt-to-equity ratio of 0.01. Catabasis Pharmaceuticals has a 12 month low of $3.60 and a 12 month high of $17.60.
Catabasis Pharmaceuticals (NASDAQ:CATB) last issued its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.02). As a group, analysts predict that Catabasis Pharmaceuticals will post -2.29 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of CATB. BlackRock Inc. lifted its position in Catabasis Pharmaceuticals by 140.0% in the 3rd quarter. BlackRock Inc. now owns 170,293 shares of the biotechnology company’s stock worth $136,000 after buying an additional 99,348 shares during the last quarter. Virtu Financial LLC bought a new stake in Catabasis Pharmaceuticals in the 1st quarter worth approximately $142,000. Oppenheimer & Co. Inc. lifted its position in Catabasis Pharmaceuticals by 97.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 91,884 shares of the biotechnology company’s stock worth $727,000 after buying an additional 45,303 shares during the last quarter. Bank of Montreal Can bought a new stake in Catabasis Pharmaceuticals in the 1st quarter worth approximately $75,000. Finally, JPMorgan Chase & Co. bought a new stake in Catabasis Pharmaceuticals in the 1st quarter worth approximately $82,000. Hedge funds and other institutional investors own 21.59% of the company’s stock.
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 that inhibits nuclear factor kappa-light-chain-enhancer of activate B cells, which is in Phase III clinical trial for the treatment of duchenne muscular dystrophy (DMD).
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