Zacks Investment Research downgraded shares of Conatus Pharmaceuticals (NASDAQ:CNAT) from a hold rating to a sell rating in a research report released on Tuesday morning.
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.”
A number of other equities analysts have also weighed in on the company. HC Wainwright reiterated a buy rating and set a $17.00 price objective (down previously from $18.00) on shares of Conatus Pharmaceuticals in a research note on Thursday, November 2nd. Seaport Global Securities restated a buy rating and set a $16.00 target price on shares of Conatus Pharmaceuticals in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Conatus Pharmaceuticals currently has a consensus rating of Buy and an average target price of $14.00.
Conatus Pharmaceuticals (NASDAQ:CNAT) traded up $0.15 during midday trading on Tuesday, hitting $4.76. The company’s stock had a trading volume of 195,442 shares, compared to its average volume of 316,355. The stock has a market cap of $142.83, a price-to-earnings ratio of -5.88 and a beta of 1.10. Conatus Pharmaceuticals has a twelve month low of $3.88 and a twelve month high of $9.40. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.69 and a quick ratio of 2.69.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.08). The company had revenue of $9.57 million for the quarter, compared to analysts’ expectations of $16.06 million. Conatus Pharmaceuticals had a negative net margin of 80.98% and a negative return on equity of 83.02%. During the same quarter in the previous year, the business posted ($0.31) EPS. sell-side analysts expect that Conatus Pharmaceuticals will post -0.65 earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. New York State Common Retirement Fund grew 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 valued at $132,000 after acquiring an additional 14,700 shares during the period. Voya Investment Management LLC acquired a new stake in shares of Conatus Pharmaceuticals during the 2nd quarter valued at about $101,000. Wells Fargo & Company MN grew 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 valued at $105,000 after acquiring an additional 18,588 shares during the period. Rhumbline Advisers acquired a new stake in shares of Conatus Pharmaceuticals during the 2nd quarter valued at about $156,000. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Conatus Pharmaceuticals during the 2nd quarter valued at about $230,000. Hedge funds and other institutional investors own 36.84% of the company’s stock.
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About Conatus Pharmaceuticals
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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