Catalyst Biosciences (NASDAQ:CBIO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Catalyst Biosciences (NASDAQ:CBIO) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. The firm currently has $1.00 target price on the biopharmaceutical company’s stock.

According to Zacks, “Catalyst Biosciences, Inc. is a biopharmaceutical company which focused on creating and developing medicines to address serious medical conditions. The Company’s hemostasis product candidates include CB 813d/PF-0520602, CB 2679d/ISU 304 and FXa. Anti-Complement Product consists of CB 2782 and Ophthalmic which are in clinical different trail. Catalyst Biosciences, Inc., formerly known as Targacept, Inc., is based in South San Francisco, Calif. “

CBIO has been the topic of several other research reports. Piper Sandler dropped their price target on shares of Catalyst Biosciences from $16.00 to $4.00 and set an overweight rating on the stock in a research note on Friday, November 12th. They noted that the move was a valuation call. Raymond James lowered shares of Catalyst Biosciences from an outperform rating to a market perform rating in a research note on Friday, November 12th. Finally, Jonestrading lowered shares of Catalyst Biosciences from a buy rating to a hold rating in a research note on Friday, November 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $10.25.

CBIO opened at $0.79 on Wednesday. Catalyst Biosciences has a fifty-two week low of $0.75 and a fifty-two week high of $7.55. The company’s 50-day moving average price is $1.25 and its 200 day moving average price is $3.16.

Catalyst Biosciences (NASDAQ:CBIO) last released its quarterly earnings data on Friday, November 12th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.14). The business had revenue of $2.30 million for the quarter, compared to analyst estimates of $1.00 million. Catalyst Biosciences had a negative return on equity of 106.12% and a negative net margin of 1,248.43%. Sell-side analysts predict that Catalyst Biosciences will post -2.79 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its holdings in shares of Catalyst Biosciences by 3.7% in the third quarter. GSA Capital Partners LLP now owns 175,751 shares of the biopharmaceutical company’s stock valued at $722,000 after acquiring an additional 6,216 shares in the last quarter. Stephens Inc. AR boosted its holdings in shares of Catalyst Biosciences by 64.6% in the second quarter. Stephens Inc. AR now owns 16,885 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 6,625 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Catalyst Biosciences by 11.0% in the second quarter. Schonfeld Strategic Advisors LLC now owns 94,800 shares of the biopharmaceutical company’s stock valued at $411,000 after acquiring an additional 9,400 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Catalyst Biosciences in the third quarter valued at approximately $41,000. Finally, Tocqueville Asset Management L.P. boosted its holdings in Catalyst Biosciences by 37.9% during the second quarter. Tocqueville Asset Management L.P. now owns 54,580 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 60.27% of the company’s stock.

About Catalyst Biosciences

Catalyst Biosciences, Inc is a clinical-stage biopharmaceutical company. It engages in the development of novel medicines to address serious medical conditions. The company was founded on March 7, 1997 and is headquartered in South San Francisco, CA.

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