In a report released today, Kevin DeGeeter from Oppenheimer maintained a Buy rating on Catalyst Biosciences Inc (CBIO), with a price target of $24. The company’s shares opened today at $8.06, close to its 52-week low of $6.20.
DeGeeter wrote:
“On 5/2/19, CBIO reported uneventful 1Q19 results (summary on p. 3) and confirmed dosing for Phase IIb DalcA study has begun. Important takeaways: 1) enrollment of 5-6-patient study should be quick; 2) investors are focused solely on safety and anti- drug antibody formation; and 3) there will likely be an update prior to the Haemostasis (ISTH) meeting in July. Given the focus on anti-drug antibodies following two cases observed in Phase II, we do not believe investors will need to wait for full results for a sense of potential outcome. Specifically, we believe CBIO may update investors in a press release following completion of dosing and would expect shares to trade well beginning in June in anticipation of potential update.”
According to TipRanks.com, DeGeeter is a 4-star analyst with an average return of 12.5% and a 46.9% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Molecular Templates Inc, Neon Therapeutics Inc, and Genomic Health.
Catalyst Biosciences Inc has an analyst consensus of Moderate Buy, with a price target consensus of $29.50.
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Based on Catalyst Biosciences Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.84 million. In comparison, last year the company had a GAAP net loss of $5.04 million.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CBIO in relation to earlier this year. Most recently, in February 2019, USMAN NASSIM, the President & CEO of CBIO bought 5,729 shares for a total of $26,525.
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Catalyst Biosciences, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of novel medicines to address serious medical conditions. Its pipeline includes hemostasis such as Factor VIIa marzeptacog alfa, Factor IX dalcinonacog alfa, and Factor Xa; and anti-complement.
