Roth Capital Reiterates Buy On Can-Fite BioPharma Following Recent Equity Raising
Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Can-Fite BioPharma (NYSE:CANF) with a $20 price target, which implies an upside of 402% from current levels, following the company’s recent equity raise.
Pantginis noted, “Can-Fite is moving quickly toward a pivotal data read out in 1Q15 with Phase II/III psoriasis data. We believe that the positive randomized Phase II RA data with CF101 and earlier data in psoriasis bode well for this study. We are also tweaking our model and price target to account for the recent equity raise.”
According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -3.5% and a 40.9% success rate. Pantginis has a -28.9% average return when recommending CANF, and is ranked #3277 out of 3426 analysts.