Oppenheimer analyst Jay Olson maintained a Buy rating on Conatus Pharmaceuticals (CNAT) today and set a price target of $10. The company’s shares closed on Tuesday at $4.50.
Olson commented:
“CNAT top-lined results from the Ph2b ENCORE-PH trial in 240 patients with compensated or early decompensated (~24% of patients) NASH cirrhosis and severe portal hypertension (PH). The trial did not meet the primary endpoint of a statistically significant decrease in mean HVPG vs. placebo in all patients. However, in compensated NASH cirrhosis patients, post hoc analyses demonstrated consistent improvements in mean HVPG at week 24 over baseline. Compensated NASH cirrhosis patients who showed a clinically meaningful ≥2-point improvement in mean HVPG were 15%-19% for all and 13%-22% for the BL HVPG≥16mmHg high-risk population. We believe development in compensated patients is on the table post all Ph2 readouts. We remove the decompensated population from our model, lowering our PT to $10 (from $14).”
According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -7.9% and a 34.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Enanta Pharmaceuticals.
Conatus Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.
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The company has a one-year high of $7.95 and a one-year low of $3.22. Currently, Conatus Pharmaceuticals has an average volume of 669.7K.
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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.
