Conatus Pharmaceuticals (NASDAQ:CNAT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Conatus presently has no approved product in its portfolio. Though the company is progressing well with its lead Candidate, emricasan for chronic liver diseases, it is still several years away from entering the market. Any development/regulatory setback of emricasan could hamper Conatus’ prospects. The company is alos conducting several phase IIb studies on emricasan, targeting different types of NASH patient populations. Notably, several companies are working on developing treatments for NASH, which might make the market competitive for emricasan. The stock has underperformed the industry in the last one year. However, we are encouraged by Conatus’ agreement with Novartis for emricasan, as it not only lends expertise to the company, but also provides it with funds to develop emricasan.”
Several other research firms also recently issued reports on CNAT. Seaport Global Securities reiterated a “buy” rating and set a $16.00 price target on shares of Conatus Pharmaceuticals in a research note on Friday, October 6th. HC Wainwright reissued a “buy” rating and set a $17.00 price objective (down previously from $18.00) on shares of Conatus Pharmaceuticals in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.00.
Conatus Pharmaceuticals (NASDAQ:CNAT) traded down $0.02 on Tuesday, hitting $4.69. The stock had a trading volume of 115,300 shares, compared to its average volume of 273,322. The company has a market cap of $139.53, a P/E ratio of -5.79 and a beta of 1.10. Conatus Pharmaceuticals has a 52 week low of $3.88 and a 52 week high of $9.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.69 and a current ratio of 2.69.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.08). The company had revenue of $9.57 million for the quarter, compared to the consensus estimate of $16.06 million. Conatus Pharmaceuticals had a negative return on equity of 83.02% and a negative net margin of 80.98%. During the same quarter last year, the company posted ($0.31) EPS. research analysts predict that Conatus Pharmaceuticals will post -0.65 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC acquired a new position in shares of Conatus Pharmaceuticals during the 2nd quarter worth about $101,000. Wells Fargo & Company MN lifted its position in shares of Conatus Pharmaceuticals by 3,098.0% during the 3rd quarter. Wells Fargo & Company MN now owns 19,188 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 18,588 shares during the last quarter. New York State Common Retirement Fund lifted its position 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 purchasing an additional 14,700 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Conatus Pharmaceuticals during the 2nd quarter worth about $156,000. Finally, OxFORD Asset Management LLP acquired a new position in shares of Conatus Pharmaceuticals during the 2nd quarter worth about $230,000. 36.84% of the stock is 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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