Catabasis Pharma (CATB): Cutting PT - Wedbush
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Wedbush analyst, Liana Moussatos, reiterated her Outperform rating on shares of Catabasis (NASDAQ: CATB) but cut her price target to $15 from $17 after the Q3:16 financial update. The analyst noted that the cash balance covers upcoming clinical catalysts. Catabasis reported no revenues and a GAAP EPS (loss) of $(0.54) vs. consensus $(0.65).
Catabasis ended Q3:16 with $47.3 million in cash and cash equivalents. The analyst is projecting a cash runway through Q3:17, which is in line with company guidance and covers the MoveDMD Part B efficacy data is expected in January or February (the first half of Q1).
The analyst also noted that Catabasis will be holding its first Investor Day on November 17 from 8:30am to 11:30am ET in New York City.
Shares of Catabasis closed at $4.45 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesLiana Moussatos
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