Brokerages Anticipate Conatus Pharmaceuticals Inc (CNAT) Will Post Quarterly Sales of $8.63 Million
Equities analysts expect that Conatus Pharmaceuticals Inc (NASDAQ:CNAT) will announce sales of $8.63 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Conatus Pharmaceuticals’ earnings, with estimates ranging from $6.13 million to $10.00 million. Conatus Pharmaceuticals reported sales of $8.80 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.9%. The business is expected to announce its next earnings results on Wednesday, March 6th.
On average, analysts expect that Conatus Pharmaceuticals will report full year sales of $34.81 million for the current financial year, with estimates ranging from $32.30 million to $36.18 million. For the next year, analysts anticipate that the company will post sales of $41.87 million, with estimates ranging from $24.25 million to $80.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Conatus Pharmaceuticals.
Several equities research analysts recently commented on the company. HC Wainwright reissued a “buy” rating on shares of Conatus Pharmaceuticals in a research note on Monday, November 5th. Oppenheimer set a $10.00 price target on Conatus Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, December 6th. Stifel Nicolaus cut Conatus Pharmaceuticals from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research note on Thursday, December 6th. ValuEngine cut Conatus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, SunTrust Banks lowered their price target on Conatus Pharmaceuticals to $12.00 and set a “buy” rating for the company in a research note on Thursday, December 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.50.
A number of institutional investors have recently made changes to their positions in the business. Creative Planning bought a new stake in Conatus Pharmaceuticals during the fourth quarter worth approximately $38,000. Hikari Power Ltd bought a new stake in Conatus Pharmaceuticals during the fourth quarter worth approximately $289,000. Virtu Financial LLC boosted its position in Conatus Pharmaceuticals by 94.6% during the third quarter. Virtu Financial LLC now owns 25,860 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 12,572 shares during the period. Artal Group S.A. bought a new stake in Conatus Pharmaceuticals during the third quarter worth approximately $2,900,000. Finally, BlackRock Inc. boosted its position in Conatus Pharmaceuticals by 13.4% during the third quarter. BlackRock Inc. now owns 1,623,958 shares of the biotechnology company’s stock worth $9,419,000 after purchasing an additional 191,287 shares during the period. 32.89% of the stock is owned by hedge funds and other institutional investors.
Conatus Pharmaceuticals Company Profile
Conatus Pharmaceuticals Inc, a biotechnology company, focuses on the development and commercialization of novel medicines for the treatment of liver diseases in the United States. Its product candidates include Emricasan, an orally active pan-caspase protease inhibitor that is in Phase IIb clinical trials for post-orthotopic liver transplant as a result of hepatitis C virus infection with sustained viral response; for patients with portal hypertension; for patients liver fibrosis caused by nonalcoholic steatohepatitis; and for liver function.
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