Conatus Pharmaceuticals Shares Offer A Compelling Value In Our View, Says Roth Capital

Roth Capital analyst Ed Arce reiterated a Buy rating on Conatus Pharmaceuticals (NASDAQ:CNAT) with a price target of $19, which represents a potential upside of 145% from where the stock is currently trading.

Arce observed, “We recently hosted investor meetings with Conatus’ CEO, Dr. Steven Mento, and CFO, Charles Cashion. We believe emricasan’s unique pan-caspase activity, combined with Conatus’ broad development approach that includes five ongoing Phase 2 trials across the spectrum of liver disease (including NASH), leads to an overall lower-risk profile for this compound and the shares. At an enterprise value of $68M, we recommend accumulation of shares at current levels and ahead of multiple data readouts beginning in January.”

The analyst concluded, “At an enterprise value of $68M, CNAT shares offer a compelling value in our view. CNAT trades at a substantial discount to our risk-adjusted EV estimate of $212M, which represents our $19 PT.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ed Arce has a total average return of 21.5% and a 51.2% success rate. Arce has a -3.7% average return when recommending CNAT, and is ranked #219 out of 3377 analysts.

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