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Zacks Investment Research Upgrades Catabasis Pharmaceuticals (CATB) to “Buy”

Zacks Investment Research upgraded shares of Catabasis Pharmaceuticals (NASDAQ:CATB) from a hold rating to a buy rating in a research note published on Friday morning. They currently have $1.75 target price on the biotechnology company’s stock.

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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 analysts also recently weighed in on the stock. Wedbush reaffirmed an outperform rating and set a $4.00 price target on shares of Catabasis Pharmaceuticals in a report on Friday, December 15th. Citigroup raised shares of Catabasis Pharmaceuticals from a neutral rating to a buy rating and set a $3.00 price target for the company in a report on Monday, November 20th. Cowen reaffirmed a market perform rating and set a $2.00 price target on shares of Catabasis Pharmaceuticals in a report on Friday, October 6th. CIBC reaffirmed an outperform rating and set a $7.00 price target (up previously from $4.00) on shares of Catabasis Pharmaceuticals in a report on Thursday, October 5th. Finally, Oppenheimer upped their price target on shares of Catabasis Pharmaceuticals from $4.00 to $7.00 and gave the stock an outperform rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $4.82.

Shares of Catabasis Pharmaceuticals (CATB) opened at $1.51 on Friday. The stock has a market cap of $34.86 and a PE ratio of -1.00. Catabasis Pharmaceuticals has a twelve month low of $1.08 and a twelve month high of $4.05.

Catabasis Pharmaceuticals (NASDAQ:CATB) last posted its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.02. The business had revenue of $0.25 million during the quarter. equities analysts anticipate that Catabasis Pharmaceuticals will post -1.38 earnings per share for the current year.

A number of large investors have recently modified their holdings of CATB. Wedbush Securities Inc. lifted its stake in Catabasis Pharmaceuticals by 2,368.6% in the 3rd quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock valued at $534,000 after purchasing an additional 241,602 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in Catabasis Pharmaceuticals in the 2nd quarter valued at approximately $271,000. Finally, Oppenheimer & Co. Inc. lifted its stake in Catabasis Pharmaceuticals by 40.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 49,000 shares during the last quarter. 32.38% of the stock is owned by institutional investors and hedge funds.

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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.

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