Can-Fite BioPharma (NYSE:CANF) Coverage Initiated at StockNews.com

Posted by ABMN Staff on Apr 30th, 2024

Equities research analysts at StockNews.com started coverage on shares of Can-Fite BioPharma (NYSE:CANF – Get Free Report) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Can-Fite BioPharma Stock Performance

Shares of Can-Fite BioPharma stock opened at $1.97 on Tuesday. Can-Fite BioPharma has a 52-week low of $1.71 and a 52-week high of $3.33. The company’s 50 day moving average price is $2.15 and its 200-day moving average price is $2.11. The stock has a market capitalization of $6.97 million, a price-to-earnings ratio of -1.10 and a beta of 1.53.

Can-Fite BioPharma (NYSE:CANF – Get Free Report) last announced its quarterly earnings results on Thursday, March 28th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04). Can-Fite BioPharma had a negative net margin of 1,027.46% and a negative return on equity of 113.75%. The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.20 million. As a group, equities research analysts forecast that Can-Fite BioPharma will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Can-Fite BioPharma

An institutional investor recently bought a new position in Can-Fite BioPharma stock. Armistice Capital LLC bought a new position in Can-Fite BioPharma Ltd. (NYSE:CANF – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 154,363 shares of the company’s stock, valued at approximately $340,000. Armistice Capital LLC owned approximately 4.36% of Can-Fite BioPharma as of its most recent filing with the SEC. Institutional investors and hedge funds own 21.00% of the company’s stock.

About Can-Fite BioPharma

(Get Free Report)

Can-Fite BioPharma Ltd., a clinical-stage biopharmaceutical company, develops small molecule therapeutic products for the treatment of cancer, liver inflammatory diseases, and erectile dysfunction. The company's lead drug candidate Piclidenoson, which has been completed Phase III clinical trial for the treatment of psoriasis; and Phase II clinical trial for the treatment of COVID-19.