In a report released yesterday, Jay Olson from Oppenheimer assigned a Buy rating to Conatus Pharmaceuticals (CNAT), with a price target of $10. The company’s shares closed on Friday at $1.97, close to its 52-week low of $1.15.
Olson noted:
“CNAT announced 4Q18 net revenue of $7.4M vs. $8.6M consensus and EPS of -$0.13. In December CNAT top-lined results from the Ph2b ENCORE-PH trial in patients with compensated or early decompensated NASH cirrhosis with PH, which did not meet the primary endpoint of a decrease in mean HVPG vs. placebo. However, in compensated NASH cirrhosis patients, post hoc analyses demonstrated consistent improvements. Before designing a Ph3, CNAT will wait for results from ongoing ENCORE-NF (2Q19) and NF (mid-2019) in NASH to design the best- suited pivotal program. Additionally, CNAT announced CTS-2090 (inhibitor of NLRP3 inflammasome pathway), which will enter the clinic in 2020. CNAT is sufficiently funded ($40.7M YE cash balance) to complete ongoing Ph2 trials. Projected YE19 cash balance excluding milestones is $10-$15M.”
According to TipRanks.com, Olson has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.5% and a 38.8% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Spero Therapeutics Inc, and Enanta Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Conatus Pharmaceuticals with a $10 average price target.
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The company has a one-year high of $7.39 and a one-year low of $1.15. Currently, Conatus Pharmaceuticals has an average volume of 666.3K.
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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.
