Can-Fite BioPharma (NYSE:CANF) Trading Up 0.3% – Still a Buy?

Can-Fite BioPharma Ltd. (NYSE:CANF)’s share price rose 0.3% during trading on Tuesday . The company traded as high as $3.27 and last traded at $3.16. Approximately 20,962 shares were traded during trading, a decline of 98% from the average daily volume of 1,143,556 shares. The stock had previously closed at $3.15.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CANF shares. Zacks Research upgraded shares of Can-Fite BioPharma to a “hold” rating in a report on Wednesday, May 13th. D. Boral Capital upgraded shares of Can-Fite BioPharma from a “hold” rating to a “buy” rating in a report on Wednesday, May 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $8.00 price objective (up from $5.00) on shares of Can-Fite BioPharma in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Can-Fite BioPharma Stock Up 2.5%

The company has a 50 day simple moving average of $3.23 and a 200 day simple moving average of $3.58. The company has a market capitalization of $2.15 million, a price-to-earnings ratio of -1.83 and a beta of 1.11.

Institutional Investors Weigh In On Can-Fite BioPharma

An institutional investor recently raised its position in Can-Fite BioPharma stock. Rhumbline Advisers boosted its stake in Can-Fite BioPharma Ltd. (NYSE:CANF) by 42.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,268 shares of the company’s stock after acquiring an additional 11,388 shares during the quarter. Rhumbline Advisers owned about 1.08% of Can-Fite BioPharma worth $57,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.00% of the company’s stock.

Can-Fite BioPharma Company Profile

Can-Fite BioPharma Ltd. is a clinical-stage biopharmaceutical company headquartered in Petah Tikva, Israel, that focuses on the development of small molecule drugs for the treatment of inflammatory, oncology and liver diseases. Established in 1994, the company leverages its proprietary technology platform centered on modulating the adenosine receptor system to advance novel therapeutic candidates. Can-Fite’s research and development efforts are directed toward addressing significant unmet medical needs in autoimmune and cancer indications.

The company’s lead product candidates include piclidenoson (CF101) and namodenoson (CF102).