Catabasis Pharmaceuticals Inc (CATB) Receives Average Rating of “Buy” from Brokerages

Catabasis Pharmaceuticals Inc (CATB) Receives Average Rating of “Buy” from Brokerages

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Catabasis Pharmaceuticals Inc (NASDAQ:CATB) has earned an average recommendation of “Buy” from the six brokerages that are currently covering the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.30.

Several equities research analysts recently commented on the company. Citigroup Inc downgraded Catabasis Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, February 1st. Oppenheimer Holdings Inc. set a $11.00 target price on Catabasis Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, January 31st. Cowen and Company downgraded Catabasis Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $4.00 target price on the stock. in a report on Wednesday, February 1st. Wedbush reiterated an “outperform” rating and set a $4.00 target price on shares of Catabasis Pharmaceuticals in a report on Tuesday, March 14th. Finally, Zacks Investment Research upgraded Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a report on Tuesday, March 21st.

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Large investors have recently modified their holdings of the stock. Great Point Partners LLC purchased a new position in shares of Catabasis Pharmaceuticals during the third quarter valued at approximately $1,540,000. Sphera Funds Management LTD. raised its position in shares of Catabasis Pharmaceuticals by 90.9% in the third quarter. Sphera Funds Management LTD. now owns 387,943 shares of the biotechnology company’s stock valued at $2,390,000 after buying an additional 184,700 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Catabasis Pharmaceuticals by 64.4% in the first quarter. Vanguard Group Inc. now owns 368,893 shares of the biotechnology company’s stock valued at $590,000 after buying an additional 144,568 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Catabasis Pharmaceuticals during the first quarter valued at approximately $144,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Catabasis Pharmaceuticals during the first quarter valued at approximately $106,000. Hedge funds and other institutional investors own 61.43% of the company’s stock.

Catabasis Pharmaceuticals (NASDAQ:CATB) opened at 1.34 on Friday. The firm’s market capitalization is $25.32 million. The firm has a 50-day moving average price of $1.43 and a 200 day moving average price of $2.54. Catabasis Pharmaceuticals has a 52-week low of $1.08 and a 52-week high of $7.89.

Catabasis Pharmaceuticals (NASDAQ:CATB) last released its quarterly earnings data on Thursday, March 16th. The biotechnology company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.02. Analysts forecast that Catabasis Pharmaceuticals will post ($1.55) EPS for the current year.

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.

5 Day Chart for NASDAQ:CATB

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Dan specializes in matters of money management and personal finance and has been published on numerous financial, business, health and wellness and sports websites.

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