FY2024 Earnings Forecast for Cardiff Oncology, Inc. (NASDAQ:CRDF) Issued By HC Wainwright

Cardiff Oncology, Inc. (NASDAQ:CRDF - Free Report) - Equities research analysts at HC Wainwright increased their FY2024 earnings estimates for shares of Cardiff Oncology in a report released on Monday, May 6th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($0.98) per share for the year, up from their prior estimate of ($0.99). HC Wainwright currently has a "Buy" rating and a $14.00 target price on the stock. The consensus estimate for Cardiff Oncology's current full-year earnings is ($0.97) per share.

Cardiff Oncology (NASDAQ:CRDF - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.05. Cardiff Oncology had a negative net margin of 6,594.92% and a negative return on equity of 54.54%. The business had revenue of $0.16 million for the quarter, compared to analysts' expectations of $0.08 million.

Separately, Piper Sandler raised their price target on Cardiff Oncology from $5.00 to $7.00 and gave the company an "overweight" rating in a report on Friday, March 1st.

Cardiff Oncology Stock Performance

Shares of Cardiff Oncology stock traded up $0.18 during midday trading on Thursday, hitting $3.38. The company had a trading volume of 1,118,054 shares, compared to its average volume of 1,421,209. The company has a 50 day moving average of $4.66 and a 200 day moving average of $2.55. The stock has a market capitalization of $151.15 million, a P/E ratio of -3.76 and a beta of 2.02. Cardiff Oncology has a 52-week low of $0.94 and a 52-week high of $6.42.

Hedge Funds Weigh In On Cardiff Oncology

A number of hedge funds have recently added to or reduced their stakes in CRDF. Callan Capital LLC boosted its holdings in shares of Cardiff Oncology by 129.2% during the 3rd quarter. Callan Capital LLC now owns 31,147 shares of the company's stock valued at $43,000 after acquiring an additional 17,560 shares during the last quarter. PFG Investments LLC purchased a new stake in Cardiff Oncology in the first quarter worth approximately $53,000. Assenagon Asset Management S.A. bought a new stake in Cardiff Oncology in the 1st quarter worth approximately $1,351,000. Finally, Blair William & Co. IL raised its stake in Cardiff Oncology by 32.4% during the 1st quarter. Blair William & Co. IL now owns 172,180 shares of the company's stock valued at $919,000 after buying an additional 42,180 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, 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.