Brean Capital Remains Positive On Conatus Pharmaceuticals Inc Following Appointment Of New VP Of Clinical Development
Brean Capital analyst Difei Yang weighed in today with her thoughts on Conatus Pharmaceuticals Inc (NASDAQ:CNAT), after the company announces the appointment of Dr. Jean Chan to its Senior Management team as VP of Clinical Development. Shares of Conatus closed today flat at $5.57.
Yang noted, “Conatus Pharmaceuticals hired a new Vice President of Clinical Development, Jean L. Chan, M.D., reporting to David T. Hagerty, M.D., Executive Vice President, Clinical Development. This would fill a void left by the resignation of the former Chief Medical Officer Gary Burgess on April 2, 2015. The new hire will also help to position the com’pany for registration trials when the current ongoing Phase II studies are expected to readout during Q3/Q4 of 2015.”
Furthermore, “We still view Conatus very favorably as CNAT has: 1). a first-in-class drug candidate that may change the standard of care in liver disease; 2). multiple catalysts on potential targeted indications before year end; 3). experienced management dedicated to finding novel therapies; and 4). attractive valuation.”
The analyst rates Conatus a Buy with a $13 price target. which represents a potential upside of 133% from where the stock is currently trading.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Difei Yang has a total average return of 18.3% and a 71.7% success rate. Yang has a -12.4% average return when recommending CNAT, and is ranked #260 out of 3619 analysts.
All the 5 analysts polled by TipRanks rate Conatus Pharmaceuticals stock a Buy. With a return potential of 129.8%, the stock’s consensus target price stands at $12.80.