Trade Report: Today: The Zacks Investment Research Downgraded Conatus Pharmaceuticals Inc. (CNAT) to Hold

Today: The Zacks Investment Research Downgraded Conatus Pharmaceuticals Inc. (CNAT) to Hold

Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

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.”

CNAT has been the subject of several other reports. JMP Securities reaffirmed a “buy” rating on shares of Conatus Pharmaceuticals in a report on Wednesday, November 9th. Stifel Nicolaus reduced their target price on 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 reaffirmed a “buy” rating and set a $7.00 target price on shares of Conatus Pharmaceuticals in a report on Tuesday, October 4th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $16.00 target price on shares of Conatus Pharmaceuticals in a report on Tuesday, August 30th. One analyst has rated the stock with 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 $9.00.

Shares of Conatus Pharmaceuticals (NASDAQ:CNAT) traded down 2.1295% during mid-day trading on Monday, hitting $1.8889. The stock had a trading volume of 34,461 shares. The company has a 50-day moving average of $1.86 and a 200 day moving average of $2.03. The firm’s market cap is $47.55 million. Conatus Pharmaceuticals has a one year low of $1.40 and a one year high of $4.05.

Conatus Pharmaceuticals (NASDAQ:CNAT) last announced its earnings results on Tuesday, November 8th. The biotechnology company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.03. During the same period in the previous year, the company earned ($0.31) EPS. On average, equities research analysts forecast that Conatus Pharmaceuticals will post ($1.28) earnings per share for the current year.

A number of large investors have recently made changes to their positions in the company. KCG Holdings Inc. acquired a new stake in shares of Conatus Pharmaceuticals during the third quarter valued at about $135,000. Bank of New York Mellon Corp increased its stake in 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 worth $178,000 after buying an additional 1,668 shares during the period. D. E. Shaw & Co. Inc. increased its stake in 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 Conatus Pharmaceuticals during the third quarter worth $200,000. Finally, Vanguard Group Inc. increased its stake in 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. 15.97% of the stock is owned by hedge funds and other institutional investors.

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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