I am not alone on this early call: Catabasis Pharmaceuticals Inc. (NASDAQ: CATB) was started with a Buy rating and a 24 price target Vs a 6.19 prior close at HC Wainwright.
CATB broke out on 23 September at 6.25, and has not yet confirmed but Thursday, a Key indicator turned Very Bullish and the stock is very oversold in here.
There is strong support at 6.29 and Key resistance at 6.84, the stock closed Thursday in NY at 6.30. A close over 6.87 confirms the 23 September breakout and augurs a move to it 52 wk high at 8.59. There is no resistance over 8.44.
News: Catabasis Pharmaceuticals Presents Information on Edasalonexent, a Potential Foundational Therapy for Duchenne Muscular Dystrophy, at the Virtual 25th International Congress of the World Muscle Society
Note: on 1 October 2015 the stock traded at 69.80.
Catabasis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of therapeutics in the United States.
Its lead product candidate is edasalonexent, an oral small molecule that inhibits nuclear factor kappa-light-chain-enhancer of activated B cells, which is in Phase III clinical trial for the treatment of duchenne muscular dystrophy (DMD).
The company is also developing CAT-5571 for the treatment of cystic fibrosis.
Catabasis Pharmaceuticals, Inc. has a preclinical research collaboration with the Jain Foundation to study edasalonexent in dysferlinopathy; and an agreement with the Bill & Melinda Gates Medical Research Institute to study CAT-5571 in drug-sensitive and drug-resistant tuberculosis.
The company was founded in Y 2008 and is HQ’d in Boston, Massachusetts.
Have a healthy weekend, Keep the Faith!