B.Riley FBR Reaffirms Their Buy Rating on Genfit SA (GNFT)

By Ryan Adsit

In a report released today, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Genfit SA (GNFTResearch Report), with a price target of $52. The company’s shares closed last Monday at $16.67, close to its 52-week low of $14.92.

Mamtani wrote:

“We reiterate our Buy rating and a 12-month price target of $52 for Genfit SA (GNFT) on the basis of company’s lead program elafibranor, in our view, representing one of the very few development programs currently in Phase III for large patient population, non-alcoholic steatohepatitis (NASH), which is also scientifically and clinically de-risked in a meaningful way. Below, we acknowledge a number of recent developments that have contributed to the recent sell-off, but we remain convinced that many of them will likely contribute to sentiment turnaround ahead of 1Q20 when GNFT anticipates to readout results from it’s pivotal Ph. III RESOLVE-IT trial. Overall, we find the risk-reward extremely compelling at current levels, on the basis of our comps analysis [Exhibit 1] and drawing situational similarities with MDCO back in 4Q18.”

According to TipRanks.com, Mamtani has 0 stars on 0-5 star ranking scale with an average return of -5.6% and a 34.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.

Currently, the analyst consensus on Genfit SA is a Moderate Buy with an average price target of $49.06, a 194.8% upside from current levels. In a report issued on September 3, H.C. Wainwright also maintained a Buy rating on the stock with a $72 price target.

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The company has a one-year high of $26.25 and a one-year low of $14.92. Currently, Genfit SA has an average volume of 71.47K.

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Genfit SA is a biopharmaceutical company involved in drug discovery and development for the early diagnosis, prevention and treatment of cardiometabolic diseases. The company focuses on the discovery and development of drug candidates in areas of high unmet medical needs corresponding to a lack of suitable treatments.