Catabasis Pharmaceuticals Inc (NASDAQ:CATB) has received a consensus rating of “Buy” from the four brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $1.75.
A number of brokerages recently weighed in on CATB. Zacks Investment Research upgraded shares of Catabasis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $0.75 target price for the company in a research report on Tuesday, August 14th. Citigroup dropped 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. Finally, Wedbush set a $3.00 target price on shares of Catabasis Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 9th.
An institutional investor recently bought a new position in Catabasis Pharmaceuticals stock. Stonepine Capital Management LLC bought a new position in shares of Catabasis Pharmaceuticals Inc (NASDAQ:CATB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,400,000 shares of the biotechnology company’s stock, valued at approximately $2,302,000. Catabasis Pharmaceuticals comprises 1.4% of Stonepine Capital Management LLC’s portfolio, making the stock its 18th biggest position. Stonepine Capital Management LLC owned about 8.27% of Catabasis Pharmaceuticals at the end of the most recent quarter. Institutional investors own 41.21% of the company’s stock.
Shares of CATB traded up $0.03 during mid-day trading on Wednesday, reaching $0.77. The stock had a trading volume of 4,302 shares, compared to its average volume of 877,764. The firm has a market cap of $56.83 million, a P/E ratio of -0.60 and a beta of 0.56. Catabasis Pharmaceuticals has a 12 month low of $0.61 and a 12 month high of $2.79.
Catabasis Pharmaceuticals (NASDAQ:CATB) last issued its earnings results on Friday, August 10th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.03. Equities research analysts expect that Catabasis Pharmaceuticals will post -0.75 EPS for the current 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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