Zacks Investment Research upgraded shares of Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) from a hold rating to a buy rating in a report published on Friday morning. They currently have $2.00 price objective on the biotechnology company’s stock.
According to Zacks, “Conatus’ third-quarter results were encouraging with the company reporting a narrower-than-expected loss. The company’s progress with its lead candidate, emricasan, has been encouraging. Emricasan is in phase II development for the treatment of chronic liver disease, including NASH fibrosis under the ENCORE program. Conatus also plans to initiate studies on emricasan targeting different types of NASH patient populations. Given that there are currently no approved therapies for NASH and the significant market opportunity, 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/regulatory setback could hamper the company’s prospects and impact the stock adversely.”
Other research analysts have also recently issued research reports about the company. Brean Capital set a $7.00 price objective on Conatus Pharmaceuticals and gave the stock a buy rating in a research report on Friday, August 5th. JMP Securities reissued a buy rating on shares of Conatus Pharmaceuticals in a report on Wednesday, November 9th. Stifel Nicolaus lowered their target price on Conatus Pharmaceuticals from $6.00 to $5.00 and set a buy rating on the stock in a report on Wednesday, November 9th. Finally, FBR & Co reissued an outperform rating and issued a $16.00 target price on shares of Conatus Pharmaceuticals in a report on Tuesday, August 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $9.00.
Shares of Conatus Pharmaceuticals (NASDAQ:CNAT) opened at 1.86 on Friday. The stock has a 50 day moving average of $1.86 and a 200-day moving average of $2.02. Conatus Pharmaceuticals has a 1-year low of $1.40 and a 1-year high of $4.05. The stock’s market capitalization is $46.82 million.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its quarterly earnings data on Tuesday, November 8th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.03. During the same period in the previous year, the firm posted ($0.31) earnings per share. Equities research analysts predict that Conatus Pharmaceuticals will post ($1.28) earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. raised its stake in Conatus Pharmaceuticals by 94.5% in the third quarter. D. E. Shaw & Co. Inc. now owns 87,788 shares of the biotechnology company’s stock worth $175,000 after buying an additional 42,649 shares during the last quarter. Courage Capital Management LLC bought a new stake in Conatus Pharmaceuticals during the third quarter worth approximately $200,000. KCG Holdings Inc. bought a new stake in Conatus Pharmaceuticals during the third quarter worth approximately $135,000. 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 worth $2,237,000 after buying an additional 14,939 shares during the last quarter. Finally, 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 worth $925,000 after buying an additional 15,300 shares during the last quarter. 15.97% of the stock is currently owned by institutional investors and hedge funds.
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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