Catabasis Pharmaceuticals (NASDAQ:CATB) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS
Catabasis Pharmaceuticals (NASDAQ:CATB) issued its earnings results on Thursday. The biotechnology company reported ($0.56) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.07, Fidelity Earnings reports.
Shares of NASDAQ:CATB traded down $0.17 during midday trading on Friday, hitting $5.12. The company had a trading volume of 69,300 shares, compared to its average volume of 126,241. The company has a market cap of $61.22 million, a price-to-earnings ratio of -1.00 and a beta of 1.73. Catabasis Pharmaceuticals has a 12-month low of $3.60 and a 12-month high of $9.76. The company has a fifty day moving average of $5.10 and a two-hundred day moving average of $6.52.
Several brokerages have recently commented on CATB. Citigroup reduced their target price on Catabasis Pharmaceuticals from $72.00 to $60.00 in a research note on Friday. Wedbush reiterated an “outperform” rating and set a $18.00 target price on shares of Catabasis Pharmaceuticals in a research note on Monday, July 29th. ValuEngine upgraded shares of Catabasis Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research lowered shares of Catabasis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th.
Catabasis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics based on safely metabolized and rationally targeted (SMART) linker drug discovery platform in the United States. The company's lead product candidate is Edasalonexent, an oral small molecule that inhibits nuclear factor kappa-light-chain-enhancer of activate B cells, which is in Phase III clinical trial for the treatment of duchenne muscular dystrophy (DMD).
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