Conatus Pharmaceuticals Inc. (CNAT) Rating Lowered to Hold at Zacks Investment Research
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Conatus is a development-stage biotech company focused on the development of treatments targeting liver disease. Its 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. Estimates have been moving up lately ahead of Q3 release. However, emricasan is still several years away from entering the market, if at all. Any development/regulatory setback could hamper its prospects as well as impact the stock adversely.”
CNAT has been the subject of a number of other research reports. Roth Capital assumed coverage on shares of Conatus Pharmaceuticals in a research report on Friday, July 1st. They set a “buy” rating for the company. Brean Capital reiterated a “buy” rating and set a $7.00 target price on shares of Conatus Pharmaceuticals in a research report on Tuesday, October 4th. Finally, FBR & Co reiterated an “outperform” rating and set a $16.00 target price on shares of Conatus Pharmaceuticals in a research report on Tuesday, August 30th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Conatus Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $9.21.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/conatus-pharmaceuticals-inc-cnat-rating-lowered-to-hold-at-zacks-investment-research.html
Conatus Pharmaceuticals (NASDAQ:CNAT) traded up 0.53% during mid-day trading on Wednesday, reaching $1.90. 75,851 shares of the company traded hands. Conatus Pharmaceuticals has a one year low of $1.40 and a one year high of $4.31. The firm’s market cap is $41.94 million. The stock’s 50-day moving average price is $1.93 and its 200-day moving average price is $2.22.
Conatus Pharmaceuticals (NASDAQ:CNAT) last announced its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.08. During the same quarter last year, the firm posted ($0.31) EPS. Analysts forecast that Conatus Pharmaceuticals will post ($1.34) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of CNAT. Bank of New York Mellon Corp boosted 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 last quarter. AXA raised its position in shares of 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. Finally, Vanguard Group Inc. raised its position 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 valued at $925,000 after buying an additional 15,300 shares during the period. Hedge funds and other institutional investors own 22.77% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.