Zacks Investment Research downgraded shares of Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Conatus’ third-quarter results were encouraging with the company reporting a narrower-than-expected loss. The company’s progress with its lead candidate, emricasan, has been encouraging. Emricasan is in phase II development for the treatment of chronic liver disease, including NASH fibrosis under the ENCORE program. Conatus also plans to initiate studies on emricasan targeting different types of NASH patient populations. Given that there are currently no approved therapies for NASH and the significant market opportunity, the company’s efforts to develop emricasan are promising. Moreover, the company’s plans to evaluate partnership opportunities for emricasan outside North America could be rewarding, if successful. However, emricasan is still several years away from entering the market, if at all. Any development/regulatory setback could hamper the company’s prospects and impact the stock adversely.”
Other research analysts have also issued reports about the stock. Stifel Nicolaus dropped their price target on shares of Conatus Pharmaceuticals from $6.00 to $5.00 and set a buy rating on the stock in a research report on Wednesday, November 9th. Brean Capital set a $7.00 price target on shares of Conatus Pharmaceuticals and gave the company a buy rating in a research report on Friday, August 5th. FBR & Co reissued an outperform rating and set a $16.00 price target on shares of Conatus Pharmaceuticals in a research report on Tuesday, August 30th. Finally, JMP Securities reissued a buy rating on shares of Conatus Pharmaceuticals in a research report on Wednesday, November 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $9.05.
Conatus Pharmaceuticals (NASDAQ:CNAT) opened at 1.89 on Tuesday. Conatus Pharmaceuticals has a 12 month low of $1.40 and a 12 month high of $4.05. The firm’s 50 day moving average is $1.87 and its 200-day moving average is $2.03. The firm’s market cap is $47.58 million.
Conatus Pharmaceuticals (NASDAQ:CNAT) last issued its quarterly earnings data on Tuesday, November 8th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.03. During the same quarter last year, the firm earned ($0.31) EPS. On average, equities analysts forecast that Conatus Pharmaceuticals will post ($1.28) EPS for the current year.
A number of hedge funds have recently made changes to their positions in the company. AXA raised its stake in shares of Conatus Pharmaceuticals by 1.4% in the second quarter. AXA now owns 1,085,775 shares of the biotechnology company’s stock valued at $2,237,000 after buying an additional 14,939 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Conatus Pharmaceuticals by 3.5% in the second quarter. Vanguard Group Inc. now owns 448,938 shares of the biotechnology company’s stock valued at $925,000 after buying an additional 15,300 shares in the last quarter. Courage Capital Management LLC bought a new stake in shares of Conatus Pharmaceuticals during the third quarter valued at approximately $200,000. D. E. Shaw & Co. Inc. raised its stake in shares of Conatus Pharmaceuticals by 94.5% in the third quarter. D. E. Shaw & Co. Inc. now owns 87,788 shares of the biotechnology company’s stock valued at $175,000 after buying an additional 42,649 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Conatus Pharmaceuticals by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 86,296 shares of the biotechnology company’s stock valued at $178,000 after buying an additional 1,668 shares in the last quarter. 19.61% of the stock is currently owned by institutional investors and hedge funds.
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.