H.C. Wainwright Reaffirms Their Hold Rating on Conatus Pharmaceuticals (CNAT)


H.C. Wainwright analyst Ed Arce maintained a Hold rating on Conatus Pharmaceuticals (CNAT) today and set a price target of $1.50. The company’s shares closed yesterday at $0.85, close to its 52-week low of $0.69.

Arce said:

“We project OpEx to decline further in 2019 as clinical trial expenditures for emricasan continue to taper down after the ENCORE-LF trial’s top-line data readout. Conatus ended 1Q19 with $33.8M in cash and cash equivalents, and guides to a year-end cash balance of $10-15M, excluding any potential milestone payments from Novartis.”

According to TipRanks.com, Arce is a 4-star analyst with an average return of 10.5% and a 38.6% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.

Conatus Pharmaceuticals has an analyst consensus of Hold, with a price target consensus of $1.60.

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Based on Conatus Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $3.91 million. In comparison, last year the company had a GAAP net loss of $5.02 million.

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Conatus Pharmaceuticals, Inc. is a biotechnology company, which engages in the development and commercialization of medicines for the treatment of liver diseases. It focuses in development of emricasan, an orally active pan-caspase inhibitor, for the treatment of patients with chronic liver disease, which reduce the activities of human caspases.

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