Conatus Pharmaceuticals Inc. (CNAT) Upgraded to Buy at Zacks Investment Research
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $2.25 price objective on the biotechnology company’s stock. Zacks Investment Research’s price objective suggests a potential upside of 14.80% from the stock’s previous close.
According to Zacks, “Conatus is a development-stage biotechnology company focused on the development and commercialization of treatments targeting liver disease. Conatus’ lead candidate, emricasan, is being developed for the treatment of patients with chronic liver disease, including liver cirrhosis due to nonalcoholic steatohepatitis, in a phase II program. Conatus also plans to initiate additional studies on emricasan under its ENCORE program on a staggered basis through early 2017. Given that there are currently no approved therapies for the indication, the company’s efforts to develop emricasan are promising. Moreover, the company’s plans to evaluate partnership opportunities for emricasan outside North America could be rewarding, if successful. However, emricasan is still several years away from entering the market, if at all. Any development or regulatory setback could hamper the company’s prospects as well as impact the stock adversely.”
Other equities research analysts have also issued reports about the stock. Brean Capital set a $7.00 target price on shares of Conatus Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 5th. Roth Capital started coverage on shares of Conatus Pharmaceuticals in a research note on Friday, July 1st. They set a “buy” rating for the company. Finally, FBR & Co reiterated an “outperform” rating and set a $16.00 target price on shares of Conatus Pharmaceuticals in a research note on Tuesday, August 30th. Six equities research analysts have rated the stock with a buy rating, Conatus Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $9.21.
Conatus Pharmaceuticals (NASDAQ:CNAT) traded up 7.14% during midday trading on Tuesday, reaching $2.10. The company had a trading volume of 1,091,048 shares. The firm has a 50-day moving average price of $1.91 and a 200-day moving average price of $2.23. Conatus Pharmaceuticals has a 52 week low of $1.40 and a 52 week high of $4.62. The company’s market capitalization is $46.35 million.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.08. During the same period in the prior year, the firm earned ($0.31) earnings per share. Analysts expect that Conatus Pharmaceuticals will post ($1.34) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. AXA raised its stake in Conatus Pharmaceuticals by 1.4% in the second quarter. AXA now owns 1,085,775 shares of the biotechnology company’s stock valued at $2,237,000 after buying an additional 14,939 shares during the period. Vanguard Group Inc. raised its stake in Conatus Pharmaceuticals by 3.5% in the second quarter. Vanguard Group Inc. now owns 448,938 shares of the biotechnology company’s stock valued at $925,000 after buying an additional 15,300 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Conatus Pharmaceuticals by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 86,296 shares of the biotechnology company’s stock valued at $178,000 after buying an additional 1,668 shares during the period. Hedge funds and other institutional investors own 22.80% of the company’s stock.
About Conatus Pharmaceuticals
Conatus Pharmaceuticals Inc is a biotechnology company. The Company focuses on the development and commercialization of medicines to treat liver disease. The Company operates through commercialization and development of pharmaceutical products segment. The Company is engaged in developing emricasan, which is an orally active pan-caspase protease inhibitor for the treatment of patients with chronic liver disease.
Receive News & Stock Ratings for Conatus Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conatus Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.