Wedbush Downgrades Catabasis Pharmaceuticals (CATB) to Hold
Wedbush analyst Liana Moussatos downgraded Catabasis Pharmaceuticals (CATB) to Hold today and set a price target of $1.15. The company’s shares closed last Friday at $1.34, close to its 52-week low of $1.27.
According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 3.0% and a 46.9% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Eiger Biopharmaceuticals, and Lexicon Pharmaceuticals.
Catabasis Pharmaceuticals has an analyst consensus of Hold, with a price target consensus of $1.15, a -16.1% downside from current levels. In a report issued on October 27, H.C. Wainwright also downgraded the stock to Hold.
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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.