Catabasis Pharmaceuticals (CATB) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Catabasis Pharmaceuticals (NASDAQ:CATB) in a research report sent to investors on Wednesday. They currently have a $4.00 price objective on the biotechnology company’s stock, down from their prior price objective of $5.00. Wedbush also issued estimates for Catabasis Pharmaceuticals’ FY2022 earnings at $0.71 EPS.

Several other brokerages have also weighed in on CATB. Zacks Investment Research upgraded shares of Catabasis Pharmaceuticals from a hold rating to a buy rating and set a $1.75 target price on the stock in a research report on Thursday, November 16th. Citigroup upgraded shares of Catabasis Pharmaceuticals from a neutral rating to a buy rating and set a $3.00 price target on the stock in a research report on Monday, November 20th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $4.82.

Shares of Catabasis Pharmaceuticals (CATB) traded down $0.17 during trading on Wednesday, hitting $1.39. 3,147,300 shares of the stock traded hands, compared to its average volume of 1,145,178. Catabasis Pharmaceuticals has a 1-year low of $1.09 and a 1-year high of $3.78.

A number of large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG acquired a new position in Catabasis Pharmaceuticals in the fourth quarter valued at about $335,000. Renaissance Technologies LLC boosted its position in Catabasis Pharmaceuticals by 167.2% in the fourth quarter. Renaissance Technologies LLC now owns 468,700 shares of the biotechnology company’s stock valued at $698,000 after buying an additional 293,300 shares in the last quarter. Geode Capital Management LLC boosted its position in Catabasis Pharmaceuticals by 146.1% in the fourth quarter. Geode Capital Management LLC now owns 76,612 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 45,476 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Catabasis Pharmaceuticals by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 169,000 shares of the biotechnology company’s stock valued at $358,000 after buying an additional 49,000 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its position in Catabasis Pharmaceuticals by 2,368.6% in the third quarter. Wedbush Securities Inc. now owns 251,802 shares of the biotechnology company’s stock valued at $534,000 after buying an additional 241,602 shares in the last quarter. Hedge funds and other institutional investors own 32.38% of the company’s stock.

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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.

Analyst Recommendations for Catabasis Pharmaceuticals (NASDAQ:CATB)

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