Catalyst Biosciences Inc Gets a Buy Rating from B.Riley FBR

By Ryan Adsit

B.Riley FBR analyst George Zavoico assigned a Buy rating to Catalyst Biosciences Inc (NASDAQ: CBIO) today and set a price target of $19. The company’s shares closed yesterday at $7.15.

Zavoico said:

“Summary and Recommendation We are initiating coverage of Catalyst Biosciences, Inc. (CBIO) with a 12-month price target of $19.00 per share based on positive preclinical and early clinical trial results for hemophilia treatments. Preliminary evidence in animal studies and persons with hemophilia indicate that the subcutaneous daily dosing regimen could restore normal blood clotting activity levels and completely mitigate the risk of dangerous and debilitating acute bleeding events into joints and soft tissues, something that no other replacement factor has yet to conclusively demonstrate. Catalyst Bio’s engineered recombinant blood coagulation factors with enhanced activity could be disruptive to the nearly $16 billion per year (in 2015) replacement factor market in treating hemophilia that is dominated by large pharmaceutical companies.”

According to TipRanks.com, Zavoico is a 1-star analyst with an average return of -3.3% and a 39.5% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Actinium Pharmaceuticals.

Catalyst Biosciences Inc has an analyst consensus of Moderate Buy, with a price target consensus of $19.

The company has a one-year high of $21.30 and a one-year low of $3.11. Currently, Catalyst Biosciences Inc has an average volume of 236.2K.

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Catalyst Biosciences, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of novel medicines to address hemophilia condition. Its product pipeline includes FVIIa for the treatment of hemophilia A or B with inhibitors, FIX for hemophilia B treatment, and FXa, which is a universal pro-coagulant. It also develops Anti-C3 CB 2782 for dry age-related macular degeneration. The company was founded on August 5, 2002 and is headquartered in South San Francisco, CA.