Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $2.00 target price on the biotechnology company’s stock. Zacks Investment Research’s price objective would indicate a potential upside of 5.82% from the stock’s previous close.
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.”
Several other research analysts also recently issued reports on the stock. JMP Securities reiterated a “buy” rating on shares of Conatus Pharmaceuticals in a report on Wednesday, November 9th. Stifel Nicolaus lowered their price target on shares of Conatus Pharmaceuticals from $6.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. Brean Capital reiterated a “buy” rating and set a $7.00 price target on shares of Conatus Pharmaceuticals in a report on Tuesday, October 4th. Finally, FBR & Co reiterated an “outperform” rating and set a $16.00 price target on shares of Conatus Pharmaceuticals in a report on Tuesday, August 30th. Six research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $9.00.
Conatus Pharmaceuticals (NASDAQ:CNAT) traded up 2.12% during mid-day trading on Friday, hitting $1.93. The company’s stock had a trading volume of 59,269 shares. Conatus Pharmaceuticals has a 52-week low of $1.40 and a 52-week high of $4.05. The firm’s market cap is $48.58 million. The firm has a 50 day moving average of $1.87 and a 200-day moving average of $2.03.
Conatus Pharmaceuticals (NASDAQ:CNAT) last announced its quarterly earnings results on Tuesday, November 8th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.03. During the same quarter last year, the company earned ($0.31) EPS. On average, equities research analysts expect that Conatus Pharmaceuticals will post ($1.28) EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. boosted 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 worth $175,000 after buying an additional 42,649 shares during the period. Courage Capital Management LLC purchased a new stake in shares of Conatus Pharmaceuticals during the third quarter worth approximately $200,000. KCG Holdings Inc. purchased a new stake in shares of Conatus Pharmaceuticals during the third quarter worth approximately $135,000. AXA boosted 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 worth $2,237,000 after buying an additional 14,939 shares during the period. Finally, Vanguard Group Inc. boosted 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 worth $925,000 after buying an additional 15,300 shares during the period. Institutional investors and hedge funds own 19.61% of the company’s stock.
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.