Zacks Investment Research Upgrades Conatus Pharmaceuticals Inc. (CNAT) to Buy
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $2.00 target price on the biotechnology company’s stock. Zacks Investment Research’s target price would indicate a potential upside of 4.71% from the stock’s previous close.
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.”
CNAT has been the subject of several other research reports. JMP Securities restated a “buy” rating on shares of Conatus Pharmaceuticals in a research note on Wednesday, November 9th. FBR & Co reiterated an “outperform” rating and set a $16.00 price objective on shares of Conatus Pharmaceuticals in a research report on Tuesday, August 30th. Brean Capital reiterated a “buy” rating and set a $7.00 price objective on shares of Conatus Pharmaceuticals in a research report on Tuesday, October 4th. Finally, Stifel Nicolaus reduced their price objective on Conatus Pharmaceuticals from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Conatus Pharmaceuticals has an average rating of “Buy” and a consensus price target of $9.00.
Shares of Conatus Pharmaceuticals (NASDAQ:CNAT) opened at 1.85 on Friday. The stock’s 50 day moving average price is $1.86 and its 200-day moving average price is $2.02. Conatus Pharmaceuticals has a 12 month low of $1.40 and a 12 month high of $4.05. The company’s market cap is $46.57 million.
Conatus Pharmaceuticals (NASDAQ:CNAT) last posted its quarterly earnings results on Tuesday, November 8th. The biotechnology company reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.03. During the same period in the previous year, the firm posted ($0.31) earnings per share. Equities research analysts expect that Conatus Pharmaceuticals will post ($1.28) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. KCG Holdings Inc. bought a new stake in shares of Conatus Pharmaceuticals during the third quarter worth approximately $135,000. Bank of New York Mellon Corp boosted its stake in shares of 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 worth $178,000 after buying an additional 1,668 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of 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 bought a new stake in shares of Conatus Pharmaceuticals during the third quarter worth approximately $200,000. Finally, Vanguard Group Inc. boosted its stake in shares of 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 and hedge funds own 15.97% 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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