ContraFect Corp. (CFRX) PT Lowered to $10 at Mizuho Securities, Keeps 'Buy'
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Mizuho Securities analyst Vamil Divan lowered the price target on ContraFect Corp. (NASDAQ: CFRX) to $10.00 (from $12.00) while maintaining a Buy rating.
The analyst commented, "ContraFect released 4Q20 earnings that were essentially a non-event, as is often the case for a clinical-stage company. The company's recent BARDA contract and equity raise solidifies its capital position and adds external credibility to the exebacase program. Attention now shifts back to the DISRUPT trial, with interim data expected in 2H 2021 and final data in 2022. We maintain our 70% POS for DISRUPT at the final analysis given the strength of the Phase 2 exebacase data in patients with methicillin-resistant Staph aureus bacteremia, including patients with right-sided endocarditis. We lower our DCF-based PT to $10 (from $12) mainly driven by the higher share count from the equity raise, but maintain our Buy rating."
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