A Reversal for ContraFect Corporation (CFRX) Is Not Near. The Formed Double Bottom

March 20, 2018 - By Marguerite Chambers

The chart of ContraFect Corporation (CFRX) shows a double bottom with $1.85 target or 3.00 % below today’s $1.91 share price. The 6 months chart pattern indicates high risk for the $140.68 million company. It was reported on Mar, 20 by Finviz.com. If the $1.85 price target is reached, the company will be worth $4.22 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 4.98% or $0.1 during the last trading session, reaching $1.91. About 79,313 shares traded. ContraFect Corporation (NASDAQ:CFRX) has declined 42.92% since March 20, 2017 and is downtrending. It has underperformed by 59.62% the S&P500.

Analysts await ContraFect Corporation (NASDAQ:CFRX) to report earnings on March, 21. They expect $-0.10 earnings per share, up 33.33 % or $0.05 from last year’s $-0.15 per share. After $0.04 actual earnings per share reported by ContraFect Corporation for the previous quarter, Wall Street now forecasts -350.00 % negative EPS growth.

ContraFect Corporation (NASDAQ:CFRX) Ratings Coverage

Among 3 analysts covering ContraFect (NASDAQ:CFRX), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. ContraFect had 5 analyst reports since December 31, 2015 according to SRatingsIntel. The stock of ContraFect Corporation (NASDAQ:CFRX) has “Buy” rating given on Thursday, December 31 by Maxim Group. Roth Capital downgraded the stock to “Neutral” rating in Tuesday, May 10 report. As per Wednesday, September 28, the company rating was initiated by William Blair. On Friday, July 22 the stock rating was downgraded by Maxim Group to “Buy”.

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