Zacks Investment Research upgraded shares of Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) from a hold rating to a buy rating in a research note issued to investors on Tuesday. Zacks Investment Research currently has $2.25 target price on the biotechnology company’s stock.
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.”
A number of other equities analysts also recently weighed in on the stock. FBR & Co reaffirmed an outperform rating and issued a $16.00 price target on shares of Conatus Pharmaceuticals in a research note on Tuesday, August 30th. Brean Capital set a $7.00 price target on shares of Conatus Pharmaceuticals and gave the stock a buy rating in a research note on Friday, August 5th. Finally, Roth Capital began coverage on shares of Conatus Pharmaceuticals in a research note on Friday, July 1st. They issued a buy rating on the stock. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus target price of $9.21.
Conatus Pharmaceuticals (NASDAQ:CNAT) opened at 2.01 on Tuesday. Conatus Pharmaceuticals has a one year low of $1.40 and a one year high of $4.62. The firm’s market cap is $44.36 million. The company has a 50-day moving average price of $1.92 and a 200-day moving average price of $2.23.
Conatus Pharmaceuticals (NASDAQ:CNAT) last posted its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.08. During the same quarter last year, the company earned ($0.31) earnings per share. Equities analysts predict that Conatus Pharmaceuticals will post ($1.34) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the company. 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 in the last quarter. AXA boosted its stake 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 worth $2,237,000 after buying an additional 14,939 shares in the last quarter. 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 in the last quarter. Hedge funds and other institutional investors own 22.80% 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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