In a report released today, Kevin Degeeter from Oppenheimer reiterated a Buy rating on Catalyst Biosciences Inc (CBIO), with a price target of $24. The company’s shares opened today at $8.47, close to its 52-week low of $6.20.
Degeeter wrote:
“On 1/31/19, abstracts for the EAHAD meeting February 6-8 were released including three abstracts from CBIO: 1) poster describing data for a new Factor IX gene therapy program, CB 2679d-GT, for hemophilia B; 2) oral presentation offering an incremental update for Phase II 3) poster describing quality of life metrics among hemophilia A patients with inhibitors. We view the Factor IX gene therapy program as an unexpected upside not captured in our outlook and an important step to broaden CBIO’s hemophilia portfolio. While still early in preclinical development, in our view, the program may offer potency advantages over more advanced competing programs by incorporating coding for expression of the CB2679d amino acid sequence of DalcA. See page 3 for abstracts.”
According to TipRanks.com, Degeeter is a 4-star analyst with an average return of 15.2% and a 55.3% success rate. Degeeter covers the Healthcare sector, focusing on stocks such as Molecular Templates Inc, Neon Therapeutics Inc, and PolarityTE Inc.
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 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.
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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.
