Conatus Pharmaceuticals (CNAT) Shares Gap Down After Analyst Downgrade

Shares of Conatus Pharmaceuticals (NASDAQ:CNAT) gapped down prior to trading on Friday after ValuEngine downgraded the stock from a hold rating to a sell rating. The stock had previously closed at $3.87, but opened at $4.12. Conatus Pharmaceuticals shares last traded at $3.98, with a volume of 1161551 shares trading hands.

A number of other analysts have also recently weighed in on CNAT. Zacks Investment Research cut shares of Conatus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. Oppenheimer began coverage on shares of Conatus Pharmaceuticals in a report on Thursday, March 1st. They set a “buy” rating and a $16.00 target price on the stock. Roth Capital began coverage on shares of Conatus Pharmaceuticals in a report on Thursday, February 8th. They set a “buy” rating and a $20.00 target price on the stock. S&P Equity Research increased their target price on shares of Conatus Pharmaceuticals from $5.02 to $5.69 in a report on Wednesday, January 24th. Finally, HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Conatus Pharmaceuticals in a report on Thursday, March 8th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.00.

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Several hedge funds have recently added to or reduced their stakes in CNAT. MPM Asset Management LLC increased its holdings in shares of Conatus Pharmaceuticals by 76.3% in the 4th 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 acquired a new stake in shares of Conatus Pharmaceuticals in the 2nd quarter worth about $2,092,000. Sterling Capital Management LLC acquired a new stake in shares of Conatus Pharmaceuticals in the 3rd quarter worth about $708,000. BlackRock Inc. increased its holdings in shares of Conatus Pharmaceuticals by 6.2% in the 4th quarter. BlackRock Inc. now owns 1,593,395 shares of the biotechnology company’s stock worth $7,362,000 after acquiring an additional 93,015 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Conatus Pharmaceuticals by 26.2% in the 4th quarter. Geode Capital Management LLC now owns 429,556 shares of the biotechnology company’s stock worth $1,983,000 after acquiring an additional 89,179 shares during the period. 39.49% of the stock is currently owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.82 and a current ratio of 2.82. The firm has a market capitalization of $180.66, a price-to-earnings ratio of -6.44 and a beta of 1.16.

Conatus Pharmaceuticals (NASDAQ:CNAT) last released its quarterly earnings data on Wednesday, March 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.02. The business had revenue of $8.80 million for the quarter, compared to analysts’ expectations of $9.60 million. Conatus Pharmaceuticals had a negative net margin of 49.17% and a negative return on equity of 61.58%. research analysts predict that Conatus Pharmaceuticals will post -0.69 earnings per share for the current year.

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About Conatus Pharmaceuticals

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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