.png "ContraFect (NASDAQ: CFRX)")
Chardan Capital analyst Keay Nakae reiterated a Buy rating on ContraFect (CFRX) today and set a price target of $1.50. The company’s shares closed yesterday at $0.51, close to its 52-week low of $0.36.
Nakae commented:
“We believe that the meeting was beneficial in both defining the potential value of the Company’s direct lytic agents, and in illuminating key supportive observations in the Phase 2 study: Vance G. Fowler, Jr. MD, MHS, and G. Ralph Corey, MD, both of Duke University, discussed the challenges of treating S. aureus bacteremia and the need for new novel anti-infectives. We found them to be very supportive of the Company’s efforts to develop new direct lytic agents (DLAs) like Execabase. The Company presented more detailed results from its Phase 2 study, including longer term followup data, primarily focused on the pre-specified MRSA patient subgroup, and new health economic data. We believe both support advancing 3 study. The next step is an end of Phase 2 meeting with the FDA, which is expected to occur around mid-2019.”
According to TipRanks.com, Nakae has currently no stars on a ranking scale of 0-5 stars, with an average return of -16.0% and a 29.1% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Arcturus Therapeutics Ltd, and BioSig Technologies Inc.
ContraFect has an analyst consensus of Moderate Buy, with a price target consensus of $1.75, which is a 246.5% upside from current levels. In a report issued on May 3, Maxim Group also initiated coverage with a Buy rating on the stock with a $2 price target.
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Based on ContraFect’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $11.59 million. In comparison, last year the company had a GAAP net loss of $19.11 million.
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ContraFect Corp. is a clinical stage biotechnology company , which engages in discovering and developing therapeutic protein and antibody products for the treatment of life-threatening infectious diseases. Its pipeline consists of CF-301, a bacteriophage-derived lysin with potent activity against Staphylococcus aureus bloodstream infections; and CF-404, which composed of three fully human monoclonal antibodies designed to treat all seasonal strains of human influenza. The company was founded by Robert Nowinski on March 5, 2008 and is headquartered in Yonkers, NY.
