Can-Fite BioPharma (NYSEAMERICAN:CANF) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Can-Fite BioPharma (NYSEAMERICAN:CANF) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports. The firm currently has $1.50 target price on the biotechnology company’s stock.

According to Zacks, “Can Fite Biopharma Ltd. is a biopharmaceutical company. It is focused on developing drugs for the treatment of cancer and autoimmune inflammatory diseases. The Company’s lead drug candidate, CF101, is in clinical development for the treatment of autoimmune inflammatory diseases. Its CF102 drug candidate is being developed for the treatment of liver diseases and its CF602 drug is being developed for the treatment of inflammation and sexual dysfunction. Can Fite Biopharma Ltd. is based in Petach Tikva, Israel. “

Other equities analysts also recently issued reports about the stock. HC Wainwright restated a buy rating and issued a $5.00 target price on shares of Can-Fite BioPharma in a research note on Friday, January 7th. Alliance Global Partners dropped their price objective on shares of Can-Fite BioPharma from $9.00 to $8.25 and set a buy rating on the stock in a research note on Tuesday, November 30th. They noted that the move was a valuation call.

Can-Fite BioPharma stock opened at $1.31 on Tuesday. Can-Fite BioPharma has a 1-year low of $0.94 and a 1-year high of $4.39. The stock has a market capitalization of $35.62 million, a P/E ratio of -1.64 and a beta of 1.91.

Can-Fite BioPharma (NYSEAMERICAN:CANF) last issued its earnings results on Tuesday, November 30th. The biotechnology company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.10). The company had revenue of $0.25 million during the quarter. Can-Fite BioPharma had a negative return on equity of 183.50% and a negative net margin of 1,518.15%. As a group, equities research analysts predict that Can-Fite BioPharma will post -0.56 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Can-Fite BioPharma stock. Morgan Stanley raised its position in Can-Fite BioPharma Ltd. (NYSEAMERICAN:CANF) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,675 shares of the biotechnology company’s stock after acquiring an additional 11,900 shares during the period. Morgan Stanley owned approximately 0.93% of Can-Fite BioPharma worth $326,000 as of its most recent filing with the Securities & Exchange Commission. 6.58% of the stock is currently owned by institutional investors.

About Can-Fite BioPharma

Can-Fite BioPharma Ltd. is a biopharmaceutical company, which engages in the development of drugs for cancer and inflammatory diseases. Its product pipeline includes Piclidenoson, Namodenoson, and CF602. The company was founded by Pnina Fishman and Ilan Cohn on September 11, 1994 and is headquartered in Petach-Tikva, Israel.

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