Catabasis Pharma (CATB): Cutting PT - Wedbush

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.

For an analyst ratings summary and ratings history on Catabasis click here. For more ratings news on Catabasis click here.

Shares of Catabasis closed at $4.45 yesterday.

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