Zacks Investment Research cut shares of Conatus Pharmaceuticals (NASDAQ:CNAT) from a hold rating to a sell rating in a report released on Monday, March 12th.
According to Zacks, “Conatus reported narrower-than-expected loss in fourth-quarter 2017 with revenues marginally missing estimates. Though, the company is progressing well with its lead candidate, emricasan, being developed for treatment of NASH, it is several years away from entering the market. Any development/regulatory setback for the candidate could hamper the company’s prospects. Notably, several companies are working to develop treatments for NASH, which might make the market competitive for emricasan. Moreover, the company has had its share of pipeline setbacks too. However, Conatus’ agreement with Novartis for emricasan is a big positive as it not only lends expertise to the company but also provides it with funds to develop emricasan. This apart, the company’s portfolio has IDN-7314, being developed for primary sclerosing cholangitis and also boasts great potential. Shares of the company have outperformed the industry in the past year.”
Several other research analysts also recently commented on the company. Oppenheimer started coverage on Conatus Pharmaceuticals in a research note on Thursday, March 1st. They issued a buy rating and a $16.00 price objective on the stock. ValuEngine raised Conatus Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, March 2nd. Roth Capital assumed coverage on Conatus Pharmaceuticals in a research note on Thursday, February 8th. They set a buy rating and a $20.00 target price on the stock. S&P Equity Research lifted their price objective on Conatus Pharmaceuticals from $5.02 to $5.69 in a research note on Wednesday, January 24th. Finally, HC Wainwright reiterated a buy rating and issued a $17.00 target price on shares of Conatus Pharmaceuticals in a report on Thursday, March 8th. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $12.00.
Conatus Pharmaceuticals (NASDAQ:CNAT) last released its earnings results on Wednesday, March 7th. The biotechnology company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. Conatus Pharmaceuticals had a negative return on equity of 61.58% and a negative net margin of 49.17%. The firm had revenue of $8.80 million for the quarter, compared to analysts’ expectations of $9.60 million. research analysts anticipate that Conatus Pharmaceuticals will post -0.69 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC acquired a new position in Conatus Pharmaceuticals during the 2nd quarter valued at about $101,000. Wells Fargo & Company MN increased its position in 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 buying an additional 18,588 shares in the last quarter. New York State Common Retirement Fund increased its position in 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 buying an additional 14,700 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new position in Conatus Pharmaceuticals during the 4th quarter valued at about $143,000. Finally, California State Teachers Retirement System acquired a new position in Conatus Pharmaceuticals during the 2nd quarter valued at about $261,000. 39.49% of the stock is owned by hedge funds and other institutional investors.
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Conatus Pharmaceuticals Company Profile
Conatus Pharmaceuticals Inc, a biotechnology company, focuses on the development and commercialization of novel medicines for the treatment of liver diseases in the United States. Its product candidates include Emricasan, an orally active pan-caspase protease inhibitor that is in Phase IIb clinical trials for post-orthotopic liver transplant as a result of hepatitis C virus infection with sustained viral response; for patients with portal hypertension; for patients liver fibrosis caused by nonalcoholic steatohepatitis; and for liver function.
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