Cardiff Oncology, Inc. (NASDAQ:CRDF) Receives $10.10 Consensus Target Price from Analysts

Key Points

• Cardiff Oncology, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with one hold and five buy ratings, and an average price target of $10.10.
• Director Gary W. Pace bought 15,000 shares of the company at $2.45 each, increasing his ownership stake to approximately 1.35 million shares.
• Cardiff Oncology reported a net loss per share of $0.21 for the most recent quarter, missing expectations, while the company had revenue of $0.12 million.

Shares of Cardiff Oncology, Inc. (NASDAQ:CRDF - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $10.10.

Several brokerages have issued reports on CRDF. LADENBURG THALM/SH SH began coverage on shares of Cardiff Oncology in a research note on Tuesday, July 8th. They set a "buy" rating and a $19.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Cardiff Oncology in a research report on Wednesday, June 18th. HC Wainwright reduced their price target on shares of Cardiff Oncology from $18.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group started coverage on shares of Cardiff Oncology in a report on Tuesday, June 24th. They issued a "hold" rating and a $3.50 target price on the stock.

Cardiff Oncology Stock Performance

Cardiff Oncology stock traded up $0.02 during trading on Wednesday, reaching $2.10. The company had a trading volume of 862,176 shares, compared to its average volume of 1,519,299. Cardiff Oncology has a 1-year low of $2.06 and a 1-year high of $5.64. The firm's 50-day simple moving average is $3.12 and its 200 day simple moving average is $3.28. The firm has a market capitalization of $139.71 million, a PE ratio of -2.41 and a beta of 1.54.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Cardiff Oncology had a negative return on equity of 77.94% and a negative net margin of 9,344.14%.The business had revenue of $0.12 million for the quarter, compared to analyst estimates of $0.11 million. Analysts anticipate that Cardiff Oncology will post -0.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Gary W. Pace purchased 275,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $2.45 per share, for a total transaction of $673,750.00. Following the completion of the purchase, the director directly owned 1,330,676 shares of the company's stock, valued at approximately $3,260,156.20. This trade represents a 26.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cardiff Oncology

Several hedge funds have recently added to or reduced their stakes in CRDF. BNP Paribas Financial Markets purchased a new position in shares of Cardiff Oncology during the fourth quarter worth approximately $25,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Cardiff Oncology during the second quarter worth approximately $32,000. Ledgewood Wealth Advisors LLC purchased a new position in shares of Cardiff Oncology during the first quarter worth approximately $35,000. Belpointe Asset Management LLC purchased a new position in shares of Cardiff Oncology during the first quarter worth approximately $37,000. Finally, Integrity Alliance LLC. purchased a new position in shares of Cardiff Oncology during the second quarter worth approximately $41,000. 16.29% of the stock is currently owned by hedge funds and other institutional investors.

Cardiff Oncology Company Profile

Cardiff Oncology, Inc, a clinical-stage biotechnology company, develops novel therapies to treat various cancers in California. Its lead drug candidate is onvansertib, an oral selective Polo-like Kinase 1 Inhibitor to treatment a range of solid tumor cancers and KRAS/NRAS-mutated metastatic colorectal and metastatic pancreatic cancer, as well as investigator-initiated trials in triple negative breast cancer and small cell lung cancer; and TROV-054 is a Phase 1b/2 for FOLFIRI and bevacizumab.