Robert W. Baird analyst Joel Beatty has maintained their bullish stance on CRDF stock, giving a Buy rating on September 27.
Joel Beatty has given his Buy rating due to a combination of factors related to Cardiff Oncology’s lead agent, onvansertib. His recommendation is largely based on newly released phase 2 data which indicates that onvansertib has potential as a monotherapy in treating Small Cell Lung Cancer (SCLC) and metastatic Pancreatic Ductal Adenocarcinoma (mPDAC). This data, while not yet substantial enough to attract significant investor attention, does lend credibility to onvansertib, prompting Beatty to predict a higher chance of success for the lead programme.
Furthermore, Beatty highlights that Cardiff Oncology has unveiled clinical data of onvansertib in combination with chemotherapy in second-line refractory mPDAC patients. He also mentions that the company’s cash reserves, which stand at $89 million as of June 30, are expected to last until 2025, well past the interim top-line results expected in mid-2024. These factors, in Beatty’s view, indicate a promising future for Cardiff Oncology which justifies his Buy rating for the company’s stock.
In another report released on September 27, Piper Sandler also maintained a Buy rating on the stock with a $5.00 price target.
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Cardiff Oncology (CRDF) Company Description:
Trovagene, Inc. is a clinical-stage, precision cancer medicine oncology therapeutics company, which engages in the development of drugs that target cell division (mitosis), for the treatment of various cancers including leukemia, lymphomas, and solid tumors. The company was founded by Gabriel M. Cerrone, L. David Tomei, Samuil Umansky, and Hovsep Melkonyan on August 4, 1999 and is headquartered in San Diego, CA.
Read More on CRDF:
- Cardiff Oncology announces results from trials in mPDAC and SCLC
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- Cardiff Oncology Reports Second Quarter 2023 Results and Provides Business Update
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