Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $2.25 target price on the biotechnology company’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 8.17% from the stock’s previous close.
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 research analysts also recently issued reports on the company. FBR & Co restated an “outperform” rating and set 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 Conatus Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, Roth Capital assumed coverage on Conatus Pharmaceuticals in a research note on Friday, July 1st. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $9.21.
Conatus Pharmaceuticals (NASDAQ:CNAT) opened at 2.08 on Tuesday. The firm’s market capitalization is $45.91 million. The stock’s 50 day moving average price is $1.92 and its 200 day moving average price is $2.23. Conatus Pharmaceuticals has a 52 week low of $1.40 and a 52 week high of $4.62.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its quarterly 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 period in the previous year, the company posted ($0.31) EPS. On average, equities analysts expect that Conatus Pharmaceuticals will post ($1.34) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position 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 valued at $178,000 after buying an additional 1,668 shares during the period. AXA increased 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. increased 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. 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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