Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Conatus presently has no approved product in its portfolio. Though its progress with the lead candidate, emricasan, has been encouraging, it is still several years away from entering the market, if at all. Any development/regulatory setback could hamper Conatus’ prospects. However, Emricasan is in phase II development for the treatment of chronic liver disease, including NASH fibrosis. Conatus also plans to initiate studies on emricasan targeting different types of NASH patient populations. On the flip side, several companies are working on developing treatments for NASH which might make the market competitive. The stock has outperformed the industry in the last one year. Estimates have been stable lately ahead of the company’s Q2 earnings release. The company has positive record of earnings surprises in recent quarters.”

Several other research analysts have also recently weighed in on CNAT. FBR & Co reiterated an “outperform” rating and set a $16.00 price target on shares of Conatus Pharmaceuticals in a research note on Wednesday, March 15th. Stifel Nicolaus restated a “buy” rating and set a $9.00 target price (up previously from $7.00) on shares of Conatus Pharmaceuticals in a research note on Thursday, March 16th. Aegis restated a “buy” rating and set a $11.00 target price on shares of Conatus Pharmaceuticals in a research note on Thursday, March 16th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Conatus Pharmaceuticals in a research note on Friday, March 17th. Finally, ValuEngine upgraded shares of Conatus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Conatus Pharmaceuticals has an average rating of “Buy” and a consensus price target of $13.25.

Shares of Conatus Pharmaceuticals (NASDAQ:CNAT) traded down 0.44% during midday trading on Tuesday, reaching $6.82. 1,040,635 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $5.22 and a 200-day moving average of $5.27. Conatus Pharmaceuticals has a one year low of $1.45 and a one year high of $9.40. The stock’s market cap is $178.47 million.

Conatus Pharmaceuticals (NASDAQ:CNAT) last issued its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. The business had revenue of $7 million for the quarter, compared to analysts’ expectations of $5.88 million. During the same quarter in the prior year, the business earned ($0.35) EPS. On average, equities research analysts anticipate that Conatus Pharmaceuticals will post ($0.57) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNAT. Renaissance Technologies LLC increased its stake in shares of Conatus Pharmaceuticals by 193.5% in the fourth quarter. Renaissance Technologies LLC now owns 183,700 shares of the biotechnology company’s stock worth $968,000 after buying an additional 121,100 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Conatus Pharmaceuticals during the first quarter worth about $854,000. Nationwide Fund Advisors bought a new stake in shares of Conatus Pharmaceuticals during the first quarter worth about $413,000. Bank of Montreal Can bought a new stake in shares of Conatus Pharmaceuticals during the second quarter worth about $109,000. Finally, Courage Capital Management LLC increased its stake in shares of Conatus Pharmaceuticals by 25.0% in the first quarter. Courage Capital Management LLC now owns 125,000 shares of the biotechnology company’s stock worth $721,000 after buying an additional 25,000 shares in the last quarter. Institutional investors own 18.76% 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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Analyst Recommendations for Conatus Pharmaceuticals (NASDAQ:CNAT)

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