Chardan Capital Maintains Their Buy Rating on Catalyst Biosciences Inc

In a report released today, Gbola Amusa from Chardan Capital maintained a Buy rating on Catalyst Biosciences Inc (NASDAQ: CBIO), with a price target of $75. The company’s shares closed yesterday at $28.07.

Amusa wrote:

“We understand that, given the size of the market opportunity and clinical trials involved, Catalyst is open to partnering to advance CB 2782 to the clinic and further indicates that the action of a protease to inhibit C3 may be superior to antibodies and peptides as CB 2782 leads to “complete” inhibition of C3. We remind that AMD, a progressive and irreversible blinding disease, is one of the largest disease markets, in affecting ~11 mm adults in the US (projected to increase to ~22 mm adults by the year 2050) and 170 mm adults globally. In its later stages, AMD occurs in 2 forms: 1) geographic atrophy or dry AMD, which results from degeneration of photoreceptor cells, and 2) neovascular or wet AMD which is characterized by infiltration of abnormal blood vessels into the retina.”

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 20.2% and a 50.7% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Arbutus Biopharma Corporation, and Assembly Biosciences.

Catalyst Biosciences Inc has an analyst consensus of Moderate Buy, with a price target consensus of $62.

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Based on Catalyst Biosciences Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.04 million. In comparison, last year the company had a GAAP net loss of $4.14 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is neutral on the stock.

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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. It also develops Anti-C3 CB 2782 for dry age-related macular degeneration. The company was founded on August 5, 2002 and is headquartered in South San Francisco, CA.