Shares of Catabasis Pharmaceuticals Inc (NASDAQ:CATB) have received a consensus rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.54.
Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Tuesday, August 14th. ValuEngine raised shares of Catabasis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Citigroup reduced their price objective on shares of Catabasis Pharmaceuticals from $2.50 to $1.50 and set a “buy” rating for the company in a research report on Friday, August 10th. Finally, Wedbush set a $3.00 price objective on shares of Catabasis Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 9th.
A number of hedge funds have recently added to or reduced their stakes in CATB. Federated Investors Inc. PA bought a new position in Catabasis Pharmaceuticals during the second quarter worth $10,006,000. Stonepine Capital Management LLC bought a new position in Catabasis Pharmaceuticals during the second quarter worth $2,302,000. Finally, Deutsche Bank AG bought a new position in Catabasis Pharmaceuticals during the fourth quarter worth $335,000. 41.21% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:CATB opened at $0.71 on Friday. Catabasis Pharmaceuticals has a 1-year low of $0.61 and a 1-year high of $3.78. The firm has a market capitalization of $52.74 million, a P/E ratio of -0.56 and a beta of 0.59.
Catabasis Pharmaceuticals (NASDAQ:CATB) last released its earnings results on Friday, August 10th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.03. research analysts anticipate that Catabasis Pharmaceuticals will post -0.75 EPS for the current fiscal year.
Catabasis Pharmaceuticals Company Profile
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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