Zacks Investment Research upgraded shares of Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) from a sell rating to a hold rating in a research note released on Tuesday.
According to Zacks, “Conatus presently has no approved product in its portfolio. The company’s lead candidate emricasan is in phase II development for treatment of chronic liver disease, including NASH fibrosis. We are positive on the company’s plans to initiate studies on emricasan, targeting different types of NASH patient populations as the market holds huge untapped potential. Though Conatus is progressing well with emricasan, it is still several years away from entering the market. Any development/regulatory setback on emricasan could hamper Conatus’ prospects. Notably, several companies are working on developing treatments for NASH which might make the market competitive for emricasan. The stock has underperformed the industry so far this year.”
CNAT has been the topic of several other research reports. HC Wainwright reaffirmed a buy rating and set a $18.00 price target on shares of Conatus Pharmaceuticals in a research report on Thursday, June 29th. Stifel Nicolaus reissued a buy rating and issued a $10.00 price objective on shares of Conatus Pharmaceuticals in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Conatus Pharmaceuticals presently has an average rating of Buy and a consensus price target of $13.39.
Conatus Pharmaceuticals (CNAT) traded up 1.61% on Tuesday, reaching $5.67. The company’s stock had a trading volume of 201,621 shares. The company’s market capitalization is $170.12 million. The firm’s 50 day moving average price is $5.49 and its 200-day moving average price is $5.81. Conatus Pharmaceuticals has a 52 week low of $1.45 and a 52 week high of $9.40.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.02). The firm had revenue of $10.00 million for the quarter, compared to the consensus estimate of $9.33 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. On average, equities analysts predict that Conatus Pharmaceuticals will post ($0.45) EPS for the current year.
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Several institutional investors have recently bought and sold shares of CNAT. Acadian Asset Management LLC lifted its position in shares of Conatus Pharmaceuticals by 641.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,097,945 shares of the biotechnology company’s stock worth $6,324,000 after buying an additional 949,785 shares during the last quarter. State Street Corp acquired a new position in shares of Conatus Pharmaceuticals in the 2nd quarter valued at about $2,092,000. Numeric Investors LLC acquired a new position in shares of Conatus Pharmaceuticals in the 2nd quarter valued at about $1,620,000. Northern Trust Corp boosted its holdings in shares of Conatus Pharmaceuticals by 640.6% in the 2nd quarter. Northern Trust Corp now owns 297,152 shares of the biotechnology company’s stock valued at $1,712,000 after buying an additional 257,030 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Conatus Pharmaceuticals by 31.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,006,890 shares of the biotechnology company’s stock valued at $5,800,000 after buying an additional 239,373 shares during the last quarter. Institutional investors own 33.13% 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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