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 report released on Tuesday morning, Zacks.com reports. They currently have $1.50 price objective 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. “

Several other equities analysts have also issued reports on the stock. HC Wainwright reiterated a buy rating and set a $5.00 target price on shares of Can-Fite BioPharma in a report on Friday, January 7th. Alliance Global Partners lowered their target price on shares of Can-Fite BioPharma from $9.00 to $8.25 and set a buy rating for the company in a report on Tuesday, November 30th. They noted that the move was a valuation call.

Can-Fite BioPharma stock opened at $1.31 on Tuesday. The company has a market cap of $35.62 million, a price-to-earnings ratio of -1.64 and a beta of 1.91. Can-Fite BioPharma has a fifty-two week low of $0.94 and a fifty-two week high of $4.39.

Can-Fite BioPharma (NYSEAMERICAN:CANF) last posted its quarterly earnings data on Tuesday, November 30th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.10). Can-Fite BioPharma had a negative net margin of 1,518.15% and a negative return on equity of 183.50%. The firm had revenue of $0.25 million for the quarter. On average, equities research analysts anticipate that Can-Fite BioPharma will post -0.56 earnings per share for the current year.

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

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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