In a report released yesterday, George Zavoico from B.Riley FBR maintained a Buy rating on Catalyst Biosciences Inc (NASDAQ: CBIO), with a price target of $44. The company’s shares opened today at $9.19.
Zavoico noted:
“This morning, 6/18, Catalyst Biosciences placed its Phase I/II trial of CB2679d/ISU304 (2679d) on hold after the first two patients in Cohort 6 developed neutralizing antibodies, one transiently, to their engineered Factor IX (FIX) indicated for prophylactic treatment of severe hemophilia B. Both patients were previously administered 2679d when enrolled in Cohort 5. The neutralizing antibodies did not recognize wild-type FIX and both patients safely resumed IV prophylaxis with recombinant wild-type FIX without any bleeding episodes. Despite the positive efficacy results in these two patients who reached trough levels of FIX activity of 31% and 34%, well into the high mild hemophilia range where joint bleeding is prevented, generation of neutralizing antibodies would require discontinuation of 2679d.”
According to TipRanks.com, Zavoico is a 3-star analyst with an average return of 7.3% and a 47.6% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Cellular Biomedicine Group, Actinium Pharmaceuticals, and Asterias Biotherapeutics.
Currently, the analyst consensus on Catalyst Biosciences Inc is Moderate Buy and the average price target is $39.50, representing a 329.8% upside.
In a report released today, Chardan Capital also maintained a Buy rating on the stock with a $35 price target.
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The company has a one-year high of $37 and a one-year low of $3.11. Currently, Catalyst Biosciences Inc has an average volume of 294.4K.
Based on the recent corporate insider activity of 6 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.
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Catalyst Biosciences, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of novel medicines to address hemophilia condition. Its product pipeline includes FVIIa for the treatment of hemophilia A or B with inhibitors, FIX for hemophilia B treatment, and FXa, which is a universal pro-coagulant.
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