Oppenheimer analyst Leah R. Cann maintained a Buy rating on Constellation Pharmaceuticals Inc (CNST) today and set a price target of $21. The company’s shares opened today at $5.69, close to its 52-week low of $5.57.
Cann commented:
“Preclinical data presented at the EORTC/NCI/AACR Meeting are supportive of our outlook for the ProSTAR study and for CPI-1205 for the potential treatment of metastatic castration-resistant prostate cancer (mCRPC). We estimate CPI-1205 could launch in the mCRPC setting in 2023 and result in sales of $1.84 billion in this setting in 2025, accounting for 88% of Constellation’s 2025 revenue. Our outlook remains unchanged.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 3.6% and a 40.7% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Constellation Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $21.
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Based on Constellation Pharmaceuticals Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.94 million. In comparison, last year the company had a GAAP net loss of $7.99 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CNST in relation to earlier this year.
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Constellation Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery, develeopment, and provision of biopharmaceutical products. It researches and develops small molecule therapeutics for the treatment of cancer, inflammatory and immunologic disorders. Its products include CPI-1205, CPI-0209, and CPI-0610.
