Catabasis Pharmaceuticals (NASDAQ:CATB) issued its quarterly earnings data on Tuesday. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.06, Bloomberg Earnings reports.
Shares of NASDAQ CATB opened at $0.66 on Wednesday. The company has a market cap of $45.82 million, a PE ratio of -0.52 and a beta of 0.82. Catabasis Pharmaceuticals has a 12-month low of $0.61 and a 12-month high of $2.38.
Hedge funds and other institutional investors have recently modified their holdings of the company. Federated Investors Inc. PA acquired a new stake in Catabasis Pharmaceuticals in the second quarter worth approximately $10,006,000. Stonepine Capital Management LLC acquired a new stake in Catabasis Pharmaceuticals in the second quarter worth approximately $2,302,000. Oppenheimer & Co. Inc. lifted its position in Catabasis Pharmaceuticals by 156.8% in the third quarter. Oppenheimer & Co. Inc. now owns 508,415 shares of the biotechnology company’s stock worth $407,000 after purchasing an additional 310,415 shares during the period. Finally, BlackRock Inc. lifted its position in Catabasis Pharmaceuticals by 140.0% in the third quarter. BlackRock Inc. now owns 170,293 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 99,348 shares during the period. Institutional investors and hedge funds own 41.70% of the company’s stock.
CATB has been the subject of several analyst reports. Zacks Investment Research upgraded 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. Citigroup reduced their price objective on 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 Catabasis Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 9th.
About Catabasis Pharmaceuticals
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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