UPDATE: Stifel Initiates Conatus Pharmaceuticals with Buy on Emricasan Potential
In a report published Monday, Stifel analyst Stephen Willey initiated coverage on Conatus Pharmaceuticals (NASDAQ: CNAT) with a Buy rating and $16.00 price target.
In the report, Stifel noted, “We are initiating coverage on shares of Conatus Pharmaceuticals, Inc. (CNAT) with a Buy rating and a 12-month target price of $16. We believe emricasan, the company's lead (and only) product candidate, leverages a historically well-validated mechanism of action (caspase inhibition) that is biologically relevant across an entire spectrum of liver-mediated disorders characterized by high morbidity and limited treatment options. Physician feedback suggests emricasan-mediated improvements in surrogate biomarkers of liver function observed to date in prior studies are clinically relevant, meaningful and likely to translate to improved patient outcomes in the currently targeted indications.”
Conatus Pharmaceuticals closed on Friday at $9.29.
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