ContraFect Corp. (CFRX) PT Raised to $17.50 at Chardan Capital Markets
- Wall Street ends down as data spooks investors awaiting Fed report
- Roblox (RBLX) Lower as DAUs Fall Sequentially
- DraftKings (DKNG) Plunges as Hindenburg's Report Indicates Betting Company's Links to Black Market Operations
- Oracle (ORCL) Tops Q4 EPS by 23c
- U.S. retail sales take step back as spending pivots to services, trend remains strong
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Chardan Capital Markets analyst Keay Nakae raised the price target on ContraFect Corp. (NASDAQ: CFRX) to $17.50 (from $15.00) while maintaining a Buy rating.
The analyst commented, "ContraFect has announced a new BARDA contract that will support the development of its lead compound, exebacase, a novel enzyme-based antibiotic being developed against Staphylococcus aureus. Under the terms of the contract, the Company will receive $9.8 million in initial funding, and could receive up to an additional $77.0 million, based on achieving defined success milestones. Given the due diligence conducted by BARDA, we view this as additional external validation, building on the December 2019 strategic investment by Pfizer (PFE, not rated). Further, while the BARDA funding is specific to activities supporting development and approval of exebacase, it frees up funds that can be allocated to other pipeline programs."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: DA Davidson Starts SPAC Forest Road Acquisition (FRX) at Buy Into Pending Merger with Beachbody
- Asahi Kasei Corp. (3407:JP) (AHKSY) PT Raised to JPY1,130 at UBS
- Recipe Unlimited Corp (RECP:CN) PT Lowered to Cdn$24 at Scotiabank
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesChardan Capital Markets
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!