Can-Fite BioPharma (NYSEAMERICAN:CANF) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Can-Fite BioPharma (NYSEAMERICAN:CANF – Get Rating) from a hold rating to a sell rating in a report published on Wednesday morning, 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 NYSEAMERICAN CANF opened at $0.90 on Wednesday. The company has a market cap of $24.46 million, a PE ratio of -1.30 and a beta of 1.83. Can-Fite BioPharma has a 1 year low of $0.78 and a 1 year high of $2.62.

Can-Fite BioPharma (NYSEAMERICAN:CANF – Get Rating) last announced its quarterly earnings results on Thursday, March 24th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The firm had revenue of $0.20 million for the quarter, compared to analyst estimates 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%. Research analysts forecast that Can-Fite BioPharma will post -0.07 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Can-Fite BioPharma stock. Morgan Stanley boosted its stake in Can-Fite BioPharma Ltd. (NYSEAMERICAN:CANF – Get Rating) by 131.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 184,775 shares of the biotechnology company’s stock after purchasing an additional 104,902 shares during the period. Morgan Stanley owned about 1.07% of Can-Fite BioPharma worth $421,000 at the end of the most recent quarter. 5.40% of the stock is owned by institutional investors.

Can-Fite BioPharma Company Profile (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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