Zacks Investment Research upgraded shares of Conatus Pharmaceuticals (NASDAQ:CNAT) from a sell rating to a hold rating in a report published on Tuesday, April 10th.
According to Zacks, “Conatus is progressing well with its lead candidate, emricasan, being developed for treatment of NASH. Any development/regulatory setback for the candidate could hamper the company’s prospects. Notably, several companies are working to develop treatments for NASH, which might make the market competitive for emricasan. Moreover, the company has had its share of pipeline setbacks too. However, Conatus’ agreement with Novartis for emricasan is a big positive as it not only lends expertise to the company but also provides it with funds to develop emricasan. This apart, the company’s portfolio has IDN-7314, being developed for primary sclerosing cholangitis and also boasts great potential. Shares of the company have underperformed the industry in the past year. Estimates have been stable lately ahead of the company’s Q1 earnings release. The company has negative record of earnings surprises in recent quarters.”
CNAT has been the topic of several other research reports. Oppenheimer reaffirmed a buy rating on shares of Conatus Pharmaceuticals in a research note on Thursday, March 22nd. HC Wainwright reissued a buy rating and set a $17.00 target price on shares of Conatus Pharmaceuticals in a research note on Thursday, March 8th. ValuEngine raised Conatus Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, March 2nd. SunTrust Banks reduced their price objective on Conatus Pharmaceuticals to $4.30 and set a buy rating on the stock in a research note on Thursday, April 5th. Finally, Roth Capital initiated coverage on Conatus Pharmaceuticals in a research note on Thursday, February 8th. They issued a buy rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $12.00.
Conatus Pharmaceuticals (NASDAQ:CNAT) last announced its earnings results on Wednesday, March 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the 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 return on equity of 61.58% and a negative net margin of 49.17%. research analysts expect that Conatus Pharmaceuticals will post -0.71 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of CNAT. Wells Fargo & Company MN lifted its holdings in shares of Conatus Pharmaceuticals by 3,098.0% in the 3rd quarter. Wells Fargo & Company MN now owns 19,188 shares of the biotechnology company’s stock worth $105,000 after buying an additional 18,588 shares during the period. New York State Common Retirement Fund raised its position in shares of Conatus Pharmaceuticals by 156.4% in 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 in the last quarter. Stone Ridge Asset Management LLC bought a new position in shares of Conatus Pharmaceuticals in the 4th quarter worth $143,000. California State Teachers Retirement System bought a new position in shares of Conatus Pharmaceuticals in the 2nd quarter worth $261,000. Finally, Macquarie Group Ltd. bought a new position in shares of Conatus Pharmaceuticals in the 3rd quarter worth $330,000. Institutional investors and hedge funds own 39.49% of the company’s stock.
Conatus Pharmaceuticals Company Profile
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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