Conatus Pharmaceuticals Inc. (CNAT) Stock Rating Upgraded by Zacks Investment Research
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $2.25 price target on the biotechnology company’s stock. Zacks Investment Research’s price objective suggests a potential upside of 14.80% from the company’s current price.
According to Zacks, “Conatus’ third-quarter results were encouraging with the company reporting a narrower-than-expected loss. The company’s progress with its lead candidate, emricasan, has been encouraging. Emricasan is in phase II development for the treatment of chronic liver disease, including NASH fibrosis under the ENCORE program. Conatus also plans to initiate studies on emricasan targeting different types of NASH patient populations. Given that there are currently no approved therapies for NASH and the significant market opportunity, 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/regulatory setback could hamper the company’s prospects and impact the stock adversely.”
Several other equities research analysts have also recently weighed in on the company. JMP Securities reiterated a “buy” rating on shares of Conatus Pharmaceuticals in a report on Wednesday, November 9th. Stifel Nicolaus dropped their price objective on Conatus Pharmaceuticals from $6.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. Brean Capital reiterated a “buy” rating and issued a $7.00 price objective on shares of Conatus Pharmaceuticals in a report on Tuesday, October 4th. Finally, FBR & Co reiterated an “outperform” rating and issued a $16.00 price objective on shares of Conatus Pharmaceuticals in a report on Tuesday, August 30th. Six investment analysts have rated the stock with a buy rating, Conatus Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $9.05.
Conatus Pharmaceuticals (NASDAQ:CNAT) opened at 1.96 on Friday. The stock’s market cap is $43.26 million. The firm has a 50-day moving average price of $1.88 and a 200 day moving average price of $2.03. Conatus Pharmaceuticals has a 52-week low of $1.40 and a 52-week high of $4.05.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its quarterly earnings data on Tuesday, November 8th. The biotechnology company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.03. During the same period in the previous year, the firm posted ($0.31) earnings per share. On average, analysts forecast that Conatus Pharmaceuticals will post ($1.28) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. boosted its position in Conatus Pharmaceuticals by 94.5% in the third quarter. D. E. Shaw & Co. Inc. now owns 87,788 shares of the biotechnology company’s stock worth $175,000 after buying an additional 42,649 shares during the last quarter. Courage Capital Management LLC purchased a new position in Conatus Pharmaceuticals during the third quarter worth approximately $200,000. KCG Holdings Inc. purchased a new position in Conatus Pharmaceuticals during the third quarter worth approximately $135,000. AXA boosted its position in Conatus Pharmaceuticals by 1.4% in the second quarter. AXA now owns 1,085,775 shares of the biotechnology company’s stock worth $2,237,000 after buying an additional 14,939 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Conatus Pharmaceuticals by 3.5% in the second quarter. Vanguard Group Inc. now owns 448,938 shares of the biotechnology company’s stock worth $925,000 after buying an additional 15,300 shares during the last quarter. Institutional investors own 19.61% of the company’s stock.
Conatus Pharmaceuticals Company Profile
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.
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