UPDATE: BMO Capital Upgrades Constellation Pharmaceuticals (CNST) to Outperform

January 25, 2021 12:07 AM EST
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Price: $22.12 +2.41%

Rating Summary:
    9 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 20 | Down: 24 | New: 32
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(Updated - January 25, 2021 12:33 AM EST)

BMO Capital analyst Do Kim upgraded Constellation Pharmaceuticals (NASDAQ: CNST) from Market Perform to Outperform with a price target of $50.00 (from $27.00).

The analyst comments "We upgrade CNST to Outperform from Market Perform, as we include CPI-0209 revenue projections following a Phase 2 clinical strategy in three tumor cohorts. We believe CPI-0209 introduces additional pipeline value in specific tumor types, where EZH2 inhibition is partly validated or makes biological sense. We expect interim CPI-0209 Phase 1 data in mid-2020, with a Phase 2 start shortly after. We raise our estimates and target price to $50 from $27, reflecting the addition of probability-adjusted CPI-0209 revenues."

For an analyst ratings summary and ratings history on Constellation Pharmaceuticals click here. For more ratings news on Constellation Pharmaceuticals click here.

Shares of Constellation Pharmaceuticals closed at $34.07 yesterday.

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