Catabasis Pharmaceuticals (CATB) Lowered to “Hold” at Zacks Investment Research

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Catabasis Pharmaceuticals (NASDAQ:CATB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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 research firms also recently weighed in on CATB. Oppenheimer set a $70.00 price target on shares of Catabasis Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, November 14th. ValuEngine downgraded shares of Catabasis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Wedbush set a $28.00 target price on shares of Catabasis Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Catabasis Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $31.19.

Shares of Catabasis Pharmaceuticals stock traded up $0.01 during midday trading on Wednesday, reaching $4.56. 73,053 shares of the company’s stock traded hands, compared to its average volume of 191,143. The company has a market capitalization of $32.49 million, a P/E ratio of -0.36 and a beta of 1.75. Catabasis Pharmaceuticals has a 52 week low of $3.60 and a 52 week high of $21.80.

A hedge fund recently raised its stake in Catabasis Pharmaceuticals stock. BlackRock Inc. increased its position in Catabasis Pharmaceuticals Inc (NASDAQ:CATB) by 140.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,293 shares of the biotechnology company’s stock after acquiring an additional 99,348 shares during the quarter. BlackRock Inc. owned about 0.24% of Catabasis Pharmaceuticals worth $136,000 at the end of the most recent quarter.

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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