Catabasis Pharmaceuticals, Inc. (CATB) Lifted to “Buy” at Citigroup Inc.
Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) was upgraded by stock analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a note issued to investors on Monday.
Several other equities research analysts have also recently issued reports on CATB. Zacks Investment Research cut shares of Catabasis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 16th. Oppenheimer Holdings, Inc. raised their price objective on shares of Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, October 5th. CIBC restated an “outperform” rating and set a $7.00 price objective (up from $4.00) on shares of Catabasis Pharmaceuticals in a research report on Thursday, October 5th. Cowen and Company restated a “market perform” rating and set a $2.00 price objective on shares of Catabasis Pharmaceuticals in a research report on Friday, October 6th. Finally, HC Wainwright raised their price objective 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $4.89.
Shares of Catabasis Pharmaceuticals (NASDAQ CATB) opened at $1.62 on Monday. Catabasis Pharmaceuticals has a 12-month low of $1.08 and a 12-month high of $5.51.
Catabasis Pharmaceuticals (NASDAQ:CATB) last issued its earnings results on Thursday, November 9th. The biotechnology company reported ($0.31) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.02. The business had revenue of $0.25 million during the quarter. research analysts forecast that Catabasis Pharmaceuticals will post -1.42 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in CATB. Wedbush Securities Inc. increased its position in Catabasis Pharmaceuticals by 2,368.6% during the third quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock worth $534,000 after purchasing an additional 241,602 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Catabasis Pharmaceuticals during the second quarter valued at about $271,000. Renaissance Technologies LLC acquired a new stake in shares of Catabasis Pharmaceuticals during the first quarter valued at about $106,000. Finally, Oppenheimer & Co. Inc. increased its position in shares of Catabasis Pharmaceuticals by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 49,000 shares during the last quarter. Hedge funds and other institutional investors own 32.23% of the company’s stock.
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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