Catabasis Pharmaceuticals (CATB) Upgraded by Zacks Investment Research to Buy

Catabasis Pharmaceuticals (NASDAQ:CATB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $5.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.90% 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. “

CATB has been the topic of several other research reports. ValuEngine raised shares of Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Monday, January 7th. Wedbush set a $28.00 price target on shares of Catabasis Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, January 29th. Finally, Oppenheimer boosted their target price on shares of Catabasis Pharmaceuticals from $7.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, January 14th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.25.

Catabasis Pharmaceuticals stock traded down $0.06 on Wednesday, hitting $4.39. The company’s stock had a trading volume of 173,400 shares, compared to its average volume of 190,953. The firm has a market capitalization of $31.35 million, a PE ratio of -0.35 and a beta of 1.75. Catabasis Pharmaceuticals has a one year low of $3.60 and a one year high of $21.80.

Catabasis Pharmaceuticals (NASDAQ:CATB) last announced its quarterly earnings results on Tuesday, November 13th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.60) by $0.80. As a group, sell-side analysts forecast that Catabasis Pharmaceuticals will post -4.8 EPS for the current year.

A hedge fund recently raised its stake in Catabasis Pharmaceuticals stock. BlackRock Inc. grew its position in Catabasis Pharmaceuticals Inc (NASDAQ:CATB) by 140.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 170,293 shares of the biotechnology company’s stock after purchasing an additional 99,348 shares during the period. BlackRock Inc. owned about 0.24% of Catabasis Pharmaceuticals worth $136,000 as of its most recent filing with the SEC.

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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