Oppenheimer Issues a Hold Rating on Catabasis Pharmaceuticals (CATB)
In a report released yesterday, Hartaj Singh from Oppenheimer assigned a Hold rating to Catabasis Pharmaceuticals (CATB). The company’s shares closed last Monday at $1.38, close to its 52-week low of $1.25.
According to TipRanks.com, Singh is a 4-star analyst with an average return of 11.2% and a 46.1% success rate. Singh covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Vertex Pharmaceuticals, and Strongbridge Biopharma.
Catabasis Pharmaceuticals has an analyst consensus of Hold, with a price target consensus of $1.20, which is a -16.1% downside from current levels. In a report issued on November 2, Wedbush also downgraded the stock to Hold with a $1.20 price target.
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Based on Catabasis Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.51 million. In comparison, last year the company had a GAAP net loss of $7.13 million.
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Catabasis Pharmaceuticals, Inc. engages in the discovery, development, and commercialization of novel therapeutics. Its lead product candidate is edasalonexent, which is intended for the treatment of Duchenne muscular dystrophy. The company was founded by Michael R. Jirousek, Jill C. Milne, and Steven E. Shoelson on June 26, 2008 and is headquartered in Cambridge, MA.