Conatus Pharmaceuticals (NASDAQ:CNAT) – Investment analysts at SunTrust Banks decreased their FY2021 earnings estimates for shares of Conatus Pharmaceuticals in a research note issued to investors on Wednesday, April 4th. SunTrust Banks analyst J. Boris now anticipates that the biotechnology company will earn $2.25 per share for the year, down from their prior forecast of $2.44. SunTrust Banks currently has a “Buy” rating and a $4.30 price target on the stock.
CNAT has been the topic of a number of other research reports. Zacks Investment Research lowered Conatus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, January 22nd. S&P Equity Research raised their price objective on Conatus Pharmaceuticals from $5.02 to $5.69 in a report on Wednesday, January 24th. Oppenheimer set a $14.00 price objective on Conatus Pharmaceuticals and gave the company a “buy” rating in a report on Thursday. HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Conatus Pharmaceuticals in a report on Thursday, March 8th. Finally, ValuEngine lowered Conatus Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.00.
Conatus Pharmaceuticals (NASDAQ:CNAT) last announced its quarterly earnings data on Wednesday, March 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The company had revenue of $8.80 million for the quarter, compared to analyst estimates of $9.60 million. Conatus Pharmaceuticals had a negative return on equity of 61.58% and a negative net margin of 49.17%.
Several hedge funds and other institutional investors have recently bought and sold shares of CNAT. State Street Corp purchased a new position in shares of Conatus Pharmaceuticals during the 2nd quarter worth $2,092,000. California State Teachers Retirement System purchased a new position in shares of Conatus Pharmaceuticals during the 2nd quarter worth $261,000. New York State Common Retirement Fund raised its holdings in shares of Conatus Pharmaceuticals by 156.4% during the 3rd quarter. New York State Common Retirement Fund now owns 24,100 shares of the biotechnology company’s stock worth $132,000 after acquiring an additional 14,700 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Conatus Pharmaceuticals by 41.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 184,021 shares of the biotechnology company’s stock worth $1,010,000 after acquiring an additional 53,678 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in shares of Conatus Pharmaceuticals during the 3rd quarter worth $330,000. Institutional investors and hedge funds own 39.49% of the company’s stock.
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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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