Catabasis Pharmaceuticals, Inc. (CATB) Price Target Raised to $7.00 at Oppenheimer Holdings, Inc.
Catabasis Pharmaceuticals, Inc. (NASDAQ:CATB) had its target price raised by Oppenheimer Holdings, Inc. from $4.00 to $7.00 in a report issued on Thursday morning. The brokerage currently has an outperform rating on the biotechnology company’s stock.
Several other equities research analysts have also recently weighed in on CATB. Citigroup Inc. reaffirmed a hold rating and set a $1.50 price objective on shares of Catabasis Pharmaceuticals in a research report on Friday, September 29th. HC Wainwright upped 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. Finally, Wedbush reaffirmed an outperform rating and set a $4.00 price objective on shares of Catabasis Pharmaceuticals in a research report on Wednesday, June 21st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $5.42.
Catabasis Pharmaceuticals (NASDAQ CATB) traded down 12.32% during trading on Thursday, hitting $2.49. 2,517,692 shares of the stock were exchanged. The stock’s market capitalization is $55.98 million. The firm has a 50-day moving average of $1.98 and a 200-day moving average of $1.98. Catabasis Pharmaceuticals has a 52 week low of $1.08 and a 52 week 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, beating the Zacks’ consensus estimate of ($0.40) by $0.08. Equities research analysts anticipate that Catabasis Pharmaceuticals will post ($1.39) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Virtu KCG Holdings LLC acquired a new position in Catabasis Pharmaceuticals during the second quarter worth about $271,000. Oppenheimer & Co. Inc. raised its stake in Catabasis Pharmaceuticals by 33.3% during the second quarter. Oppenheimer & Co. Inc. now owns 120,000 shares of the biotechnology company’s stock worth $169,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Catabasis Pharmaceuticals during the first quarter worth about $106,000. 32.90% of the stock is owned by hedge funds and other institutional investors.
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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