In a research report issued today, MLV analyst Vernon Bernardino maintained a Buy rating on Conatus Pharmaceuticals (NASDAQ:CNAT) with a $16 price target, ahead of the company’s top-line results from three clinical trials with emricasan, which will be reported after market close Thursday, Jan 8th.
Bernardino wrote, “We believe continued confirmation of its activity key to advancing emricasan into clinical trials in 2016. We therefore look for a trio of positive results, particularly, rapid and sustained anti-caspase activity with the repeat dosing regimens employed in the studies whose results will be presented Thursday during a conference call and webcast.”
The analyst added, “With the stock still undervalued by our analysis, we believe current prices are attractive entry points ahead of significant catalysts anticipated in 2015.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Vernon Bernardino has a total average return of -13.8% and a 28.0% success rate. Bernardino has a 41.8% average return when recommending CNAT, and is ranked #3320 out of 3429 analysts.