Zacks Investment Research Downgrades Catabasis Pharmaceuticals (CATB) to Hold

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Catabasis Pharmaceuticals (NASDAQ:CATB) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

A number of other research firms also recently weighed in on CATB. Citigroup reduced their target price 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. Wedbush set a $3.00 target price on shares of Catabasis Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 9th.

Catabasis Pharmaceuticals stock opened at $0.73 on Tuesday. Catabasis Pharmaceuticals has a twelve month low of $0.61 and a twelve month high of $2.60. The company has a market cap of $56.83 million, a PE ratio of -0.59 and a beta of 0.56.

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 Zacks’ consensus estimate of ($0.23) by $0.03. On average, sell-side analysts anticipate that Catabasis Pharmaceuticals will post -0.75 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Catabasis Pharmaceuticals stock. Federated Investors Inc. PA acquired a new position in Catabasis Pharmaceuticals Inc (NASDAQ:CATB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,434,000 shares of the biotechnology company’s stock, valued at approximately $10,006,000. Federated Investors Inc. PA owned 35.94% of Catabasis Pharmaceuticals at the end of the most recent quarter. 41.21% of the stock is owned by institutional investors and hedge funds.

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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