Analysts Are Extremely Bullish On Drug Stocks CNAT and VRNA

Conatus Pharmaceuticals is trading back in familiar territory

by Josh Selway

Published on Mar 2, 2018 at 2:34 PM

U.S. stocks are dragging again today following President Donald Trump's tariff tweet. As for some of today's most notable movers, drug stocks Zosano Pharma Corp (NASDAQ:ZSAN), Conatus Pharmaceuticals Inc (NASDAQ:CNAT), and Verona Pharma (NASDAQ:VRNA) are three names we're tracking today. Let's take a closer look at what's moving shares of ZSAN, CNAT, and VRNA.

Patent News Lifts ZSAN Stock

Zosano stock has gotten drilled over the past year, falling from $55 to single-digit territory -- though today the shares are fighting back, up 34.6% at $7.35. The move comes after the company revealed a patent for its experimental migraine treatment. We'll see if it's big enough news to attract positive analyst attention, as there's only one brokerage firm tracking ZSAN shares at the moment.

Conatus Rallies On Oppenheimer Note

CNAT stock is trading up 16.8% at $6.06, thanks to a new "outperform" designation from Oppenheimer. The brokerage firm is bullish on the drugmaker's liver disease treatment emricasan, suggesting it could be used to treat NASH. Turning back to the charts, Conatus Pharmaceuticals stock is again testing the $6 level that's blocked breakout attempts since September -- though the 50-day moving average has been very supportive in recent weeks. As for Wall Street sentiment, all five CNAT analysts have "strong buy" ratings.

Verona Stock Tops Out Near $17.50 Again

Positive mid-stage trial results for a cystic fibrosis treatment has shares of VRNA up 7.6% at $15.25. They earlier topped out at $17.45 -- an area that also marked short-term peaks in May and December -- and are trading back below today's opening price. Meanwhile, this is another stock analysts love, as all five in coverage say Verona is a "strong buy."

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