Catabasis Pharmaceuticals (CATB) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Catabasis Pharmaceuticals (NASDAQ:CATB) from a buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

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 have also recently weighed in on the stock. 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. ValuEngine cut shares of Catabasis Pharmaceuticals from a hold rating to a sell rating in a report on Monday, February 4th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and an average price target of $28.88.

Shares of NASDAQ:CATB opened at $7.29 on Wednesday. The firm has a market cap of $84.98 million, a price-to-earnings ratio of -1.42 and a beta of 1.72. Catabasis Pharmaceuticals has a 1-year low of $3.60 and a 1-year high of $17.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.25 and a current ratio of 12.25.

Catabasis Pharmaceuticals (NASDAQ:CATB) last issued its earnings results on Tuesday, May 14th. The biotechnology company reported ($0.62) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.02). As a group, equities research analysts anticipate that Catabasis Pharmaceuticals will post -2.33 EPS for the current year.

Several large investors have recently modified their holdings of CATB. Federated Investors Inc. PA grew its position in shares of Catabasis Pharmaceuticals by 109.8% during the first quarter. Federated Investors Inc. PA now owns 2,189,400 shares of the biotechnology company’s stock worth $17,340,000 after acquiring an additional 1,146,000 shares during the last quarter. BlackRock Inc. grew its position in shares of Catabasis Pharmaceuticals by 140.0% during the third quarter. BlackRock Inc. now owns 170,293 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 99,348 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Catabasis Pharmaceuticals during the first quarter worth about $1,174,000. Renaissance Technologies LLC grew its position in shares of Catabasis Pharmaceuticals by 247.6% during the first quarter. Renaissance Technologies LLC now owns 124,164 shares of the biotechnology company’s stock worth $983,000 after acquiring an additional 88,445 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of Catabasis Pharmaceuticals by 97.3% during the first quarter. Oppenheimer & Co. Inc. now owns 91,884 shares of the biotechnology company’s stock worth $727,000 after acquiring an additional 45,303 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors.

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 that inhibits nuclear factor kappa-light-chain-enhancer of activate B cells, which is in Phase III clinical trial for the treatment of duchenne muscular dystrophy (DMD).

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