Conatus Pharmaceuticals Inc. (CNAT) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS
Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) posted its earnings results on Wednesday. The biotechnology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.08), Bloomberg Earnings reports. The company had revenue of $9.57 million for the quarter, compared to analyst estimates of $16.06 million. During the same quarter in the previous year, the company posted ($0.31) EPS.
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An institutional investor recently bought a new position in Conatus Pharmaceuticals stock. California State Teachers Retirement System bought a new position in Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 45,300 shares of the biotechnology company’s stock, valued at approximately $261,000. California State Teachers Retirement System owned approximately 0.15% of Conatus Pharmaceuticals at the end of the most recent reporting period. 33.06% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on CNAT shares. Stifel Nicolaus reiterated a “buy” rating and set a $10.00 target price on shares of Conatus Pharmaceuticals in a research report on Thursday, August 3rd. Seaport Global Securities reiterated a “buy” rating and set a $16.00 target price on shares of Conatus Pharmaceuticals in a research report on Friday, October 6th. Zacks Investment Research upgraded shares of Conatus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, HC Wainwright cut their target price on shares of Conatus Pharmaceuticals from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.00.
Conatus Pharmaceuticals Company Profile
Conatus Pharmaceuticals Inc is a biotechnology company. The Company focuses on the development and commercialization of medicines to treat liver disease. The Company operates through commercialization and development of pharmaceutical products segment. The Company is engaged in developing emricasan, which is an orally active pan-caspase protease inhibitor for the treatment of patients with chronic liver disease.
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