Rodman & Renshaw Assumes Can-Fite BioPharma (CANF) at Buy
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Rodman & Renshaw assumed coverage on Can-Fite BioPharma (NYSE: CANF) with a Buy rating and a price target of $6. Analyst Raghuram Selvaraju said the company is "underrated."
"In our view, Can-Fite constitutes an undervalued proposition within the biopharmaceutical sector, given: (1) the near-term initiation of two Phase 3 programs with validated clinical protocols for its lead candidate, piclidenoson (CF101), in rheumatoid arthritis (RA) and psoriasis, disease areas in which the drug’s activity has already been clinically demonstrated; (2) potential for its technology platform to be leveraged into various other disease areas, including cancer, NASH, and sexual dysfunction; (3) the safety advantages of the company’s proprietary molecules based on A3AR expression patterns; and (4) experienced leadership, particularly Dr. Pnina Fishman, the company’s scientific founder, who are committed to driving the company’s programs forward and attaining value-driving inflection points," said Selvaraju.
Shares of Can-Fite BioPharma closed at $2.40 yesterday.
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