Zacks Investment Research cut shares of Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) from a hold rating to a sell rating in a report released on Tuesday morning.
According to Zacks, “Conatus presently has no approved product in its portfolio. Though its progress with the lead candidate, emricasan, has been encouraging, it is still several years away from entering the market, if at all. Any development/regulatory setback could hamper Conatus’ prospects. However, Emricasan is in phase II development for the treatment of chronic liver disease, including NASH fibrosis. Conatus also plans to initiate studies on emricasan targeting different types of NASH patient populations. On the flip side, several companies are working on developing treatments for NASH which might make the market competitive. The stock has outperformed the industry in the last one year. Estimates have been stable lately ahead of the company’s Q2 earnings release. The company has positive record of earnings surprises in recent quarters.”
A number of other research analysts have also recently weighed in on the stock. HC Wainwright restated a buy rating and issued a $18.00 price objective on shares of Conatus Pharmaceuticals in a report on Thursday, June 29th. ValuEngine upgraded shares of Conatus Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, May 24th. Aegis restated a buy rating and issued a $11.00 price objective on shares of Conatus Pharmaceuticals in a report on Monday, May 15th. Stifel Nicolaus restated a buy rating and issued a $9.00 price objective (up previously from $7.00) on shares of Conatus Pharmaceuticals in a report on Thursday, March 16th. Finally, FBR & Co reiterated an outperform rating and set a $16.00 price target on shares of Conatus Pharmaceuticals in a report on Wednesday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Conatus Pharmaceuticals has a consensus rating of Buy and an average target price of $13.25.
Conatus Pharmaceuticals (CNAT) traded down 1.38% during trading on Tuesday, hitting $6.42. 231,468 shares of the stock were exchanged. The stock’s 50 day moving average price is $5.22 and its 200 day moving average price is $5.27. The stock’s market cap is $168.00 million. Conatus Pharmaceuticals has a 12 month low of $1.45 and a 12 month high of $9.40.
Conatus Pharmaceuticals (NASDAQ:CNAT) last announced its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.20. The business had revenue of $7 million during the quarter, compared to analyst estimates of $5.88 million. During the same quarter last year, the firm posted ($0.35) EPS. Analysts forecast that Conatus Pharmaceuticals will post ($0.57) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Conatus Pharmaceuticals by 193.5% in the fourth quarter. Renaissance Technologies LLC now owns 183,700 shares of the biotechnology company’s stock valued at $968,000 after buying an additional 121,100 shares during the period. Nationwide Fund Advisors bought a new stake in shares of Conatus Pharmaceuticals during the first quarter valued at $413,000. Acadian Asset Management LLC bought a new stake in shares of Conatus Pharmaceuticals during the first quarter valued at $854,000. Bank of New York Mellon Corp increased its stake in shares of Conatus Pharmaceuticals by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 80,310 shares of the biotechnology company’s stock valued at $464,000 after buying an additional 1,655 shares in the last quarter. Finally, Courage Capital Management LLC increased its stake in shares of Conatus Pharmaceuticals by 25.0% in the first quarter. Courage Capital Management LLC now owns 125,000 shares of the biotechnology company’s stock valued at $721,000 after buying an additional 25,000 shares in the last quarter. Institutional investors own 18.84% 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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