JonesTrading analyst Matthew Cross maintained a Buy rating on Catalyst Biosciences Inc (CBIO) today and set a price target of $30. The company’s shares opened today at $9.70.
Cross noted:
“We maintain our BUY rating and 12-month price target of $30.00/share. Milestones ahead with potential to grant CBIO shares due credit before 2020. Share weakness on positive data, particularly amidst sector- and market-wide selling, has become somewhat of an enduring trend for Catalyst; however, given the company’s continually successful execution over the last year we remain optimistic that shares may see a recovery by the end of 2019. As numerous new hemophilia treatment modalities have secured, or are on the cusp of, market approval (discussed in our prior notes on CBIO) it may be unclear exactly where marz alfa may fit in this evolving landscape.”
According to TipRanks.com, Cross has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.3% and a 31.6% success rate. Cross covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics Inc, Actinium Pharmaceuticals, and Aldeyra Therapeutics.
Currently, the analyst consensus on Catalyst Biosciences Inc is a Moderate Buy with an average price target of $27.
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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 $15.08 million. In comparison, last year the company had a GAAP net loss of $6.48 million.
Based on the recent corporate insider activity of 27 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. Most recently, in May 2019, USMAN NASSIM, the President & CEO of CBIO bought 4,400 shares for a total of $20,372.
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Catalyst Biosciences, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of novel medicines to address serious medical conditions. Its pipeline includes hemostasis such as Factor VIIa marzeptacog alfa, Factor IX dalcinonacog alfa, and Factor Xa; and anti-complement.
