Conatus Pharmaceuticals Inc. (CNAT) Lifted 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 note issued to investors on Tuesday. The firm presently has a $2.25 price objective on the biotechnology company’s stock. Zacks Investment Research’s price objective points to a potential upside of 13.07% from the company’s current price.
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 research analysts have also recently issued research reports about the stock. Brean Capital set a $7.00 target price on shares of Conatus Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 5th. Roth Capital started coverage on shares of Conatus Pharmaceuticals in a report on Friday, July 1st. They set a “buy” rating for the company. Finally, FBR & Co restated an “outperform” rating and set a $16.00 target price on shares of Conatus Pharmaceuticals in a report on Tuesday, August 30th. Six research analysts have rated the stock with a buy rating, Conatus Pharmaceuticals has an average rating of “Buy” and a consensus price target of $9.21.
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Shares of Conatus Pharmaceuticals (NASDAQ:CNAT) opened at 1.99 on Tuesday. Conatus Pharmaceuticals has a 52-week low of $1.40 and a 52-week high of $4.62. The firm has a 50-day moving average of $1.93 and a 200 day moving average of $2.23. The firm’s market capitalization is $43.92 million.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.08. During the same quarter last year, the firm posted ($0.31) earnings per share. Analysts predict that Conatus Pharmaceuticals will post ($1.34) EPS for the current year.
A number of hedge funds 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. 22.80% of the stock is currently owned by hedge funds and other institutional investors.
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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