In a report released yesterday, Kevin Degeeter from Oppenheimer maintained a Buy rating on Catalyst Biosciences Inc (CBIO), with a price target of $24. The company’s shares closed yesterday at $7.94, close to its 52-week low of $6.20.
Degeeter wrote:
“On 3/7/19, CBIO reported uneventful 4Q18 results and reiterated plans to present Phase IIb data on DalcA and a complete Phase II dataset for MarzAA this year, potentially at the Haemostasis (ISTH) meeting in July. We continue to view MarzAA as an underappreciated asset with potential market expansion to include acquired hemophilia A and Factor VII deficiency. Updates on MarzAA were recently presented at EAHAD, which suggest clean safety and reduction in bleed intensity (see note here). We believe investor expectations for DalcA (Factor IX SQ) are modest and view clean anti-drug antibody profile as the most important metric for unlocking shareholder value for the program. Maintain Outperform rating.”
According to TipRanks.com, Degeeter is a 4-star analyst with an average return of 14.2% and a 53.6% success rate. Degeeter covers the Healthcare sector, focusing on stocks such as Molecular Templates Inc, Neon Therapeutics Inc, and Genomic Health.
Currently, the analyst consensus on Catalyst Biosciences Inc is a Moderate Buy with an average price target of $29.50.
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Based on Catalyst Biosciences Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.69 million. In comparison, last year the company had a GAAP net loss of $5.75 million.
Based on the recent corporate insider activity of 19 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
