Piper Sandler Has Lowered Expectations for Cardiff Oncology (NASDAQ:CRDF) Stock Price

Cardiff Oncology (NASDAQ:CRDF) had its target price dropped by research analysts at Piper Sandler from $10.00 to $6.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 234.26% from the company’s previous close.

A number of other brokerages have also recently issued reports on CRDF. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiff Oncology in a report on Wednesday, January 21st. Noble Financial began coverage on shares of Cardiff Oncology in a research note on Monday, January 5th. They set an “outperform” rating and a $12.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Cardiff Oncology in a research report on Wednesday, January 28th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.10.

Cardiff Oncology Stock Up 5.6%

Shares of CRDF stock traded up $0.10 on Wednesday, reaching $1.80. 844,212 shares of the stock were exchanged, compared to its average volume of 1,330,559. The stock has a market cap of $120.91 million, a P/E ratio of -2.27 and a beta of 1.33. The firm has a 50 day moving average of $2.36 and a two-hundred day moving average of $2.26. Cardiff Oncology has a 1-year low of $1.48 and a 1-year high of $4.56.

Cardiff Oncology (NASDAQ:CRDF) last issued its earnings results on Thursday, February 26th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. Cardiff Oncology had a negative return on equity of 77.21% and a negative net margin of 10,064.27%.The firm had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $0.13 million. On average, equities research analysts predict that Cardiff Oncology will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardiff Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Cardiff Oncology by 23.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,956 shares of the company’s stock valued at $69,000 after buying an additional 4,232 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cardiff Oncology by 24.9% during the second quarter. Invesco Ltd. now owns 23,795 shares of the company’s stock worth $75,000 after purchasing an additional 4,749 shares during the last quarter. AlphaCore Capital LLC lifted its position in shares of Cardiff Oncology by 8.2% during the third quarter. AlphaCore Capital LLC now owns 109,926 shares of the company’s stock worth $226,000 after purchasing an additional 8,351 shares during the last quarter. Raymond James Financial Inc. grew its stake in Cardiff Oncology by 70.1% in the third quarter. Raymond James Financial Inc. now owns 23,632 shares of the company’s stock worth $49,000 after purchasing an additional 9,740 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Cardiff Oncology by 18.8% in the first quarter. Rhumbline Advisers now owns 63,142 shares of the company’s stock valued at $198,000 after buying an additional 9,970 shares during the last quarter. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

Cardiff Oncology Company Profile

Cardiff Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts. The company is dedicated to the discovery, development and commercialization of novel small-molecule therapies designed to modulate the tumor microenvironment and enhance antitumor immune responses. By focusing on unique immuno-oncology targets, Cardiff seeks to address resistance pathways that limit the effectiveness of existing cancer treatments.

Cardiff’s pipeline comprises several small-molecule immunomodulators in various stages of preclinical and clinical development.