Ladenburg ups Catalyst Biosciences PT to $47 from $14.25


Ladenburg Thalmann more than tripled its price target for Catalyst Biosciences (NASDAQ:CBIO) to $47 from $14.25 after the company reported compelling hemophilia B data at a medical conference in Europe. The stock closed at $27.28 on Feb. 8.

“On net, we believe the data are strongly suggestive that longer dosing and/or including an IV loading dose could result in higher peak expression levels than observed in the [European] cohort,” writes analyst Kevin DeGeeter.

“We now believe CB 2679d has potential to be a new standard of care in pediatric hemophilia B patients and are raising our peak U.S. market share in pediatric Factor IX deficient patients to 50% from 35%,” he added. 

More than 70% of hemophilia B patients are diagnosed as children. Mr. DeGeeter said the benefits of CB 2679d in pediatric patients include subcutaneous dosing and dosing frequency less than once daily. “Our forecast calls for peak sales of $575-million, up from a prior forecast of $435-million,” he added.