Price Action Alert: Could Catabasis Pharmaceuticals Inc Change Direction After Reaching 1 Year Low?

Price Action Alert: Could Catabasis Pharmaceuticals Inc Change Direction After Reaching 1 Year Low?

The stock of Catabasis Pharmaceuticals Inc (NASDAQ:CATB) hit a new 52-week low and has $2.81 target or 14.00% below today’s $3.27 share price. The 8 months bearish chart indicates high risk for the $58.42M company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $2.81 price target is reached, the company will be worth $8.18 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 33,053 shares traded hands. Catabasis Pharmaceuticals Inc (NASDAQ:CATB) has declined 33.72% since April 1, 2016 and is downtrending. It has underperformed by 34.93% the S&P500.

Analysts await Catabasis Pharmaceuticals Inc (NASDAQ:CATB) to report earnings on November, 10. They expect $-0.64 earnings per share, down 16.36% or $0.09 from last year’s $-0.55 per share. After $-0.61 actual earnings per share reported by Catabasis Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts 4.92% negative EPS growth.

Catabasis Pharmaceuticals Inc (NASDAQ:CATB) Ratings Coverage

Out of 2 analysts covering Catabasis Pharmaceuticals (NASDAQ:CATB), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Catabasis Pharmaceuticals has been the topic of 4 analyst reports since August 17, 2015 according to StockzIntelligence Inc. Citigroup maintained it with “Buy” rating and $16 target price in Tuesday, March 22 report. Citigroup maintained the shares of CATB in a report on Thursday, June 9 with “Buy” rating. The stock of Catabasis Pharmaceuticals Inc (NASDAQ:CATB) has “Buy” rating given on Monday, August 17 by Wedbush. Wedbush maintained the shares of CATB in a report on Wednesday, June 8 with “Outperform” rating.

According to Zacks Investment Research, “Catabasis Pharmaceuticals, Inc. is a biopharmaceutical company. The Company focuses on the discovery, development and commercialization of therapeutics for treatment of inflammatory, immunological and metabolic diseases. Its product development pipeline includes CAT-1004, CAT-2000 series including CAT-2054 and CAT-2003, CAT-4001 as well as various programs which are in different clinical-stage. Catabasis Pharmaceuticals, Inc. is based in Cambridge, Massachusetts.”

More notable recent Catabasis Pharmaceuticals Inc (NASDAQ:CATB) news were published by: Marketwatch.com which released: “Catabasis shares plummet 51% after drug trial misses goal” on April 24, 2015, also Businesswire.com with their article: “Catabasis Pharmaceuticals and Sarepta Therapeutics Announce a Joint Research …” published on September 29, 2016, Businesswire.com published: “Catabasis Pharmaceuticals to Host Investor Day in New York City on November 17” on November 03, 2016. More interesting news about Catabasis Pharmaceuticals Inc (NASDAQ:CATB) were released by: Businesswire.com and their article: “Catabasis Pharmaceuticals Announces Pricing of $10 Million Offering of Common …” published on September 23, 2016 as well as Businesswire.com‘s news article titled: “FARA Announces Catabasis Pharmaceuticals as the Recipient of the Kyle Bryant …” with publication date: January 19, 2016.

CATB Company Profile

Catabasis Pharmaceuticals, Inc., incorporated on June 26, 2008, is a clinical-stage biopharmaceutical company. The Firm is focused on the discovery, development and commercialization of therapeutics based on its Safely Metabolized And Rationally Targeted (SMART), a linker drug discovery platform. The SMART linker drug discovery platform enables to engineer product candidates that can modulate multiple targets in a disease. The Company’s primary focus is on treatments for rare diseases. The Firm is also developing other product candidates for the treatment of lipid disorders. The Company’s CAT-1004 is a SMART linker conjugate of salicylate, a non-steroidal anti-inflammatory drug, and the omega-3 fatty acid docosahexaenoic acid (DHA), a naturally occurring unsaturated fatty acid with anti-inflammatory properties. The Company’s CAT-2000 series product candidates inhibit the Sterol Regulatory Element Binding Protein (SREBP) pathway. The Company’s CAT-4001 is a SMART linker conjugate of monomethyl fumarate and DHA.

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