Can-Fite Represents An Undervalued Player With Significant Upside, Says H.C. Wainwright


In a research report issued this morning, H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on shares of Can-Fite BioPharma (NYSE:CANF) with a $7 price target, which implies an upside of 102% from current levels. The report follows the company’s last week quarterly update. The company reported a net loss of ($935,000), or ($0.05) per share, less than Wainwright estimated loss ($2.1) MM or ($0.13) per share.

Benjamin noted, “Can- Fite ended 3Q14 with $4.1 MM in cash, which was recently bolstered by an $8 MM registered direct offering. We estimate the $12.1 MM pro forma cash position can sustain operations through the end of 2016.” The analyst added, “Given the company’s Phase 3-ready pipeline, potential to secure a major partnership, and a pro forma cash position of $12.1 MM, we believe Can-Fite represents an undervalued player with significant upside for the long-term investor.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Reni Benjamin has a total average return of -4.2% and a 29.3% success rate. Benjamin is ranked #3129 out of 3425 analysts.

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