Maxim analyst Jason McCarthy upgraded ContraFect to Buy from Hold with a $3 price target. The firm is positive on the company’s opportunity for exebacase in prosthetic joint infections, or PJIs, driven by staphylococcus infections, which it is now factoring into its valuation model. A Phase 1b/2 single-center study in France was initiated on April 3rd, with the first patient expected to be dosed soon, and the company is also going to have several presentations at the ECCMID meeting this weekend, highlighting the potential of exebacase and lysin candidate CF-370 in infections driven by gram-positive and gram-negative bugs, respectively, the analyst tells investors in a research note.
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