Zacks Investment Research Downgrades Cardiff Oncology (NASDAQ:CRDF) to Hold


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Cardiff Oncology (NASDAQ:CRDF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Cardiff Oncology Inc. is a clinical-stage biotechnology company. It engages in developing treatment for cancer patients. The company’s product pipeline consists of a Phase 1b/2 study of onvansertib in combination with FOLFIRI/Avastin(R) in KRAS-mutated metastatic colorectal cancer; a Phase 2 study of onvansertib in combination with Zytiga(R) in Zytiga-resistant metastatic castration-resistant prostate cancer; and a Phase 2 study of onvansertib in combination with decitabine in relapsed or refractory acute myeloid leukemia. Cardiff Oncology Inc., formerly known as Trovagene Inc., is based in SAN DIEGO. “

A number of other brokerages have also recently commented on CRDF. Maxim Group increased their target price on Cardiff Oncology from $14.00 to $20.00 in a report on Wednesday, October 21st. Piper Sandler initiated coverage on Cardiff Oncology in a report on Thursday, October 8th. They set an “overweight” rating and a $25.00 target price on the stock. ValuEngine cut Cardiff Oncology from a “buy” rating to a “hold” rating in a report on Monday, November 2nd. BidaskClub cut Cardiff Oncology from a “buy” rating to a “hold” rating in a report on Friday, December 25th. Finally, HC Wainwright initiated coverage on Cardiff Oncology in a report on Thursday, October 22nd. They set a “buy” rating and a $27.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.20.

CRDF opened at $17.53 on Tuesday. The stock has a market cap of $619.25 million, a P/E ratio of -6.26 and a beta of 1.80. The stock’s 50 day simple moving average is $19.70 and its 200 day simple moving average is $12.35. Cardiff Oncology has a 1-year low of $0.70 and a 1-year high of $25.50.

Cardiff Oncology (NASDAQ:CRDF) last announced its earnings results on Thursday, November 5th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The company had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.05 million. Cardiff Oncology had a negative net margin of 4,990.52% and a negative return on equity of 95.03%. As a group, equities analysts expect that Cardiff Oncology will post -1.04 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Carroll Financial Associates Inc. acquired a new stake in Cardiff Oncology during the fourth quarter worth about $66,000. LPL Financial LLC purchased a new stake in shares of Cardiff Oncology during the 3rd quarter worth about $201,000. Virtu Financial LLC purchased a new stake in shares of Cardiff Oncology during the 3rd quarter worth about $292,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Cardiff Oncology during the 3rd quarter worth about $421,000. Finally, Sphera Funds Management LTD. purchased a new stake in shares of Cardiff Oncology during the 3rd quarter worth about $568,000. 52.97% of the stock is owned by hedge funds and other institutional investors.

Cardiff Oncology Company Profile

Cardiff Oncology, Inc, a clinical-stage biotechnology company, develops drugs for the treatment of cancer. Its lead drug candidate is onvansertib, a Polo-like Kinase 1 selective adenosine triphosphate competitive inhibitor that is in Phase Ib/II clinical trial in acute myeloid leukemia (AML); has completed a Phase I clinical trial in advanced solid tumors; and Phase Ib/II clinical trial for metastatic colorectal cancer in combination with FOLFIRI and Avastin.

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