ContraVir Stock Rose on Clinical Trial Progress Report

Stock performance

On July 23, ContraVir Pharmaceuticals stock closed at $0.95, which represents ~12% growth from its 52-week low of $0.85 on July 20 and 4.7% growth from its close of $0.91 on July 20. ContraVir Pharmaceuticals hit its 52-week high of $6.60 on October 17, 2017. On July 23, ContraVir Pharmaceuticals stock started rising after the company gave an update on its phase 1/2A trial of CRV431.

ContraVir Stock Rose on Clinical Trial Progress Report

Recent developments

ContraVir Pharmaceuticals is focused on the development and commercialization of antiviral therapies with a special focus on the development of anti-HBV (hepatitis B virus) therapies. On July 23, ContraVir Pharmaceuticals (CTRV) announced the completion of the dosing of the first group in the phase 1/2A trial with CRV431. So far, the drug has been found to be safe and well tolerated.

The company also noted that the pharmacokinetic profile of CRV431 remained similar to expectations as depicted in prior pre-clinical studies. CRV431 primarily inhibits the cyclophilin isomerase activity and is a non-immunosuppressive analog of cyclosporine A. A William Blair report noted that the company generated $700 million from sales of HBV therapy in 2015.

ContraVir Pharmaceuticals has also developed a DAA (direct-acting antiviral) nucleotide prodrug of tenofovir, TXL. ContraVir Pharmaceuticals completed a phase 2a study with TXL and achieved the proof-of-concept by meeting all clinical endpoints. ContraVir Pharmaceuticals’ TXL also received an orphan drug designation from the FDA.

Analysts’ recommendations for CTRV and its peers

Both of the analysts tracking ContraVir Pharmaceuticals in July recommended a “buy.” On July 23, ContraVir Pharmaceuticals had a consensus 12-month target price of $3.75, which represents a ~293.99% return on investment over the next 12 months.

In July 2018, of the seven analysts tracking Arbutus Biopharma (ABUS), ~71% of them recommended a “buy,” while out of the six analysts tracking Arrowhead Pharmaceuticals (ARWR), ~83% of them recommended “buys.” Of the seven analysts tracking Chimerix (CMRX), one of them recommended a “buy” rating.

On July 23, Arbutus Biopharma, Arrowhead Pharmaceuticals, and Chimerix had consensus 12-month target prices of $10.04, $13.5 and $6.4, respectively, which represents a ~12.70% decline, a ~18.23% decline, and a ~39.13% increase over the next 12 months.