Zacks Investment Research upgraded shares of Conatus Pharmaceuticals (NASDAQ:CNAT) from a sell rating to a hold rating in a research note issued to investors on Tuesday, April 10th.
According to Zacks, “Conatus is progressing well with its lead candidate, emricasan, being developed for treatment of NASH. Any development/regulatory setback for the candidate could hamper the company’s prospects. Notably, several companies are working to develop treatments for NASH, which might make the market competitive for emricasan. Moreover, the company has had its share of pipeline setbacks too. However, Conatus’ agreement with Novartis for emricasan is a big positive as it not only lends expertise to the company but also provides it with funds to develop emricasan. This apart, the company’s portfolio has IDN-7314, being developed for primary sclerosing cholangitis and also boasts great potential. Shares of the company have underperformed the industry in the past year. Estimates have been stable lately ahead of the company’s Q1 earnings release. The company has negative record of earnings surprises in recent quarters.”
CNAT has been the topic of a number of other research reports. S&P Equity Research lifted their price objective on shares of Conatus Pharmaceuticals from $5.02 to $5.69 in a research report on Wednesday, January 24th. Oppenheimer set a $14.00 target price on shares of Conatus Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, April 5th. HC Wainwright reissued a buy rating and set a $17.00 target price on shares of Conatus Pharmaceuticals in a research report on Thursday, March 8th. ValuEngine downgraded shares of Conatus Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, April 6th. Finally, Roth Capital initiated coverage on shares of Conatus Pharmaceuticals in a research note on Thursday, February 8th. They set a buy rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $12.00.
Shares of CNAT opened at $3.58 on Tuesday. Conatus Pharmaceuticals has a 1-year low of $3.56 and a 1-year high of $9.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.82 and a quick ratio of 2.82.
Conatus Pharmaceuticals (NASDAQ:CNAT) last posted its quarterly earnings results on Wednesday, March 7th. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.02. Conatus Pharmaceuticals had a negative net margin of 49.17% and a negative return on equity of 61.58%. The business had revenue of $8.80 million during the quarter, compared to analyst estimates of $9.60 million. equities research analysts expect that Conatus Pharmaceuticals will post -0.71 EPS for the current year.
A number of large investors have recently bought and sold shares of CNAT. MPM Asset Management LLC raised its position in Conatus Pharmaceuticals by 76.3% during the fourth quarter. MPM Asset Management LLC now owns 2,101,171 shares of the biotechnology company’s stock worth $9,707,000 after acquiring an additional 909,091 shares during the period. State Street Corp purchased a new stake in shares of Conatus Pharmaceuticals during the second quarter worth $2,092,000. Sterling Capital Management LLC purchased a new stake in shares of Conatus Pharmaceuticals in the third quarter valued at about $708,000. BlackRock Inc. grew its holdings in shares of Conatus Pharmaceuticals by 6.2% in the fourth quarter. BlackRock Inc. now owns 1,593,395 shares of the biotechnology company’s stock valued at $7,362,000 after purchasing an additional 93,015 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Conatus Pharmaceuticals by 26.2% in the fourth quarter. Geode Capital Management LLC now owns 429,556 shares of the biotechnology company’s stock valued at $1,983,000 after purchasing an additional 89,179 shares during the period. Institutional investors own 39.49% of the company’s stock.
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Conatus Pharmaceuticals Company Profile
Conatus Pharmaceuticals Inc, a biotechnology company, focuses on the development and commercialization of novel medicines for the treatment of liver diseases in the United States. Its product candidates include Emricasan, an orally active pan-caspase protease inhibitor that is in Phase IIb clinical trials for post-orthotopic liver transplant as a result of hepatitis C virus infection with sustained viral response; for patients with portal hypertension; for patients liver fibrosis caused by nonalcoholic steatohepatitis; and for liver function.
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