Catalyst Biosciences (CBIO) Gets a Buy Rating from Raymond James

By Jason Carr

Raymond James analyst David Novak maintained a Buy rating on Catalyst Biosciences (CBIOResearch Report) on July 13 and set a price target of $20.00. The company’s shares closed last Wednesday at $5.56.

According to TipRanks.com, Novak is a 3-star analyst with an average return of 7.7% and a 32.5% success rate. Novak covers the Healthcare sector, focusing on stocks such as Knight Therapeutics, Ziopharm Oncology, and Leap Therapeutics.

Currently, the analyst consensus on Catalyst Biosciences is a Strong Buy with an average price target of $19.00, implying a 251.2% upside from current levels. In a report issued on July 13, LifeSci Capital also maintained a Buy rating on the stock with a $19.00 price target.

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Based on Catalyst Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.66 million and GAAP net loss of $17.25 million. In comparison, last year the company had a GAAP net loss of $13.78 million.

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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 August 20, 2015 and is headquartered in South San Francisco, CA.