Can-Fite BioPharma (NYSEAMERICAN:CANF) Rating Increased to Hold at Zacks Investment Research

Can-Fite BioPharma (NYSEAMERICAN:CANF – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

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. “

Shares of Can-Fite BioPharma stock traded down $0.00 during trading hours on Thursday, hitting $0.97. The company’s stock had a trading volume of 156,354 shares, compared to its average volume of 270,389. Can-Fite BioPharma has a 12-month low of $0.78 and a 12-month high of $2.62. The company has a market capitalization of $26.51 million, a price-to-earnings ratio of -1.41 and a beta of 1.83.

Can-Fite BioPharma (NYSEAMERICAN:CANF – Get Rating) last posted its earnings results on Thursday, March 24th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The company had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.30 million. Can-Fite BioPharma had a negative return on equity of 145.21% and a negative net margin of 1,478.90%. Analysts forecast that Can-Fite BioPharma will post -0.07 earnings per share for the current year.

An institutional investor recently raised its position in Can-Fite BioPharma stock. Morgan Stanley increased its stake in shares of Can-Fite BioPharma Ltd. (NYSEAMERICAN:CANF – Get Rating) by 351.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,873 shares of the biotechnology company’s stock after buying an additional 62,197 shares during the period. Morgan Stanley owned 0.46% of Can-Fite BioPharma worth $197,000 at the end of the most recent quarter. Institutional investors own 5.40% of the company’s stock.

About Can-Fite BioPharma (Get Rating)

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.

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