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 closed yesterday at $8.59, close to its 52-week low of $6.20.
Degeeter wrote:
“On 2/8, CBIO presented an important update at the EAHAD meeting from the Phase II MarzAA Factor VIIa program. The update included: 1) strong safety with 6 injection- site reactions in 450 doses (~2%) and zero cases of anti-drug antibodies, 2) first demonstrated activity in a hemophilia B patient, and 3) clinician focus on potential for treatment of breakthrough bleeds in Hemlibra-treated patients. Separately, data on treatment of breakthrough bleeds from the HAVEN 1-4 registration studies of Hemlibra demonstrated NovoSeven recombinant Factor VIIa IV was effective in treating bleeds (oral abstract 12). We believe this data supports the opportunity to substitute subcutaneous MarzAA for IV NovoSeven and believe this opportunity is underappreciated by most investors. We discuss CBIO’s abstracts on Factor IX gene therapy on p. 3.”
According to TipRanks.com, Degeeter is a 4-star analyst with an average return of 14.2% and a 53.2% success rate. Degeeter covers the Healthcare sector, focusing on stocks such as Molecular Templates Inc, Neon Therapeutics Inc, and PolarityTE Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Catalyst Biosciences Inc with a $29.50 average price target, representing a 243.4% upside. In a report issued on January 31, Chardan Capital also reiterated 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 $6.20. Currently, Catalyst Biosciences Inc has an average volume of 226.7K.
Based on the recent corporate insider activity of 16 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.
