Zacks Investment Research upgraded shares of Catalyst Biosciences (NASDAQ:CBIO) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $1.00 price target on the biopharmaceutical company’s stock.
According to Zacks, “Catalyst Biosciences, Inc. is a biopharmaceutical company which focused on creating and developing medicines to address serious medical conditions. The Company’s hemostasis product candidates include CB 813d/PF-0520602, CB 2679d/ISU 304 and FXa. Anti-Complement Product consists of CB 2782 and Ophthalmic which are in clinical different trail. Catalyst Biosciences, Inc., formerly known as Targacept, Inc., is based in South San Francisco, Calif. “
Several other analysts have also weighed in on the stock. Jonestrading lowered shares of Catalyst Biosciences from a buy rating to a hold rating in a research report on Friday, November 12th. Raymond James lowered shares of Catalyst Biosciences from an outperform rating to a market perform rating in a research report on Friday, November 12th. Finally, Piper Sandler cut their price target on shares of Catalyst Biosciences from $16.00 to $4.00 and set an overweight rating for the company in a report on Friday, November 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Catalyst Biosciences has an average rating of Buy and a consensus price target of $10.25.
Catalyst Biosciences (NASDAQ:CBIO) last issued its earnings results on Friday, November 12th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.14). Catalyst Biosciences had a negative net margin of 1,248.43% and a negative return on equity of 106.12%. The business had revenue of $2.30 million for the quarter, compared to analyst estimates of $1.00 million. Research analysts forecast that Catalyst Biosciences will post -2.79 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in CBIO. 22NW LP raised its stake in shares of Catalyst Biosciences by 84.4% in the second quarter. 22NW LP now owns 1,429,242 shares of the biopharmaceutical company’s stock worth $6,189,000 after acquiring an additional 653,968 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Catalyst Biosciences in the second quarter worth about $1,941,000. Pura Vida Investments LLC bought a new position in shares of Catalyst Biosciences in the third quarter worth about $1,531,000. Millennium Management LLC raised its stake in shares of Catalyst Biosciences by 46.1% in the second quarter. Millennium Management LLC now owns 787,748 shares of the biopharmaceutical company’s stock worth $3,411,000 after acquiring an additional 248,474 shares during the last quarter. Finally, Ergoteles LLC bought a new position in shares of Catalyst Biosciences in the second quarter worth about $470,000. 60.27% of the stock is owned by hedge funds and other institutional investors.
About Catalyst Biosciences
Catalyst Biosciences, Inc is a clinical-stage biopharmaceutical company. It engages in the development of novel medicines to address serious medical conditions. The company was founded on March 7, 1997 and is headquartered in South San Francisco, CA.
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