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Maxim analyst starts ContraFect (NASDAQ:CFRX) with $2 price target, Buy rating

  • Maxim analyst initiates ContraFect with $2 price target and a Buy rating
  • Jason McCarthy cited the company’s endeavours to develop what could become a fresh class of non-antibiotic with lower drug resistance
  • He believes the firm’s Exebacase product could proceed to stage three trials

ContraFect (NASDAQ:CFRX) has been initiated with a price target of $2 and a Buy rating by Maxim analyst Jason McCarthy. He noted the firm’s development efforts for lysins that could become ‘a new class of non-antibiotic anti-infective that can mitigate drug resistance.'

He also mentioned that the share’s valuation has been negatively affected by the study miss on a phase two trial, although that could be ascribed to the number of left-sided endocarditis patients not being properly balanced. Nevertheless, he believes that there is room for the company’s Exebacase product to proceed to a phase 3 study.