Oppenheimer analyst Leah R. Cann maintained a Buy rating on Constellation Pharmaceuticals Inc (NASDAQ: CNST) today and set a price target of $21. The company’s shares opened today at $6.57, close to its 52-week low of $6.40.
Cann commented:
“We view the enhancements to the MANIFEST study positively, as they could lead to a more meaningful data set to inform future studies. Constellation Pharmaceuticals has no revenue and no estimated revenue until it launches its first products, CPI-1205 and CPI-0610, which we estimate will occur in 2023. Based on our outlook that Constellation could launch the first two of its potential drugs in 2023, we estimate revenue could increase to $2.09 billion in 2025. We anticipate CPI-0610 2025 sales of $249.2 million, or 11.9%, of Constellation’s estimated 2025 revenue. Constellation reiterated it expects proof of concept results for CPI-0610 in MF by mid-2019.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 13.3% and a 47.3% 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 Strong Buy, with a price target consensus of $19.
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The company has a one-year high of $12.21 and a one-year low of $6.40. Currently, Constellation Pharmaceuticals Inc has an average volume of 119K.
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.
