Oppenheimer analyst Jay Olson maintained a Buy rating on Conatus Pharmaceuticals (NASDAQ: CNAT) yesterday and set a price target of $14. The company’s shares closed yesterday at $4.28.
Olson commented:
“CNAT announced 3Q18 net revenue of $7.6M vs. $9.8M consensus and EPS of – $0.15 in line with consensus. CNAT faces several catalysts with three Ph2 studies reading out over the next nine months. We can expect data from EncorePH with 240 patients with compensated or early decompensated (~30% of patients) NASH cirrhosis and severe portal hypertension (PH) this quarter. PH is a significant market (~6% of NASH patients, in our view) and the HVPG endpoint is a surrogate for clinical improvement. We previously reviewed what constitutes significant HVPG changes. Management states CNAT is sufficiently funded with an expected YE cash balance of $35M-40M to complete the ongoing Ph2 trials. We see emricasan as a well- differentiated asset and maintain Outperform.”
According to TipRanks.com, Olson has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.6% and a 35.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Enanta Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Conatus Pharmaceuticals with a $14.50 average price target.
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Based on Conatus Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.5 million. In comparison, last year the company had a GAAP net loss of $4 million.
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Conatus Pharmaceuticals, Inc. engages in the development and commercialization of medicines for the treatment of liver diseases. It focuses in development of emricasan, an active pan-caspase protease inhibitor for the treatment of patients with chronic liver disease, which reduce the activities of human caspases.
