Jefferies has started coverage on Cardiff Oncology (CRDF, Financial) with a Hold rating and set a price target at $3.50. The company is developing onvansertib, a drug showing encouraging initial results in treating first-line RAS mutations metastatic colorectal cancer. Despite these early promising findings, Jefferies expresses caution due to the drug's mechanism, which has been linked to previous unsuccessful studies.
The firm notes that upcoming events this year may not offer sufficient insight into the drug's effectiveness. The Hold rating is slated for reassessment after the anticipated data update on July 29.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Cardiff Oncology Inc (CRDF, Financial) is $12.58 with a high estimate of $20.00 and a low estimate of $3.50. The average target implies an upside of 298.21% from the current price of $3.16. More detailed estimate data can be found on the Cardiff Oncology Inc (CRDF) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, Cardiff Oncology Inc's (CRDF, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Cardiff Oncology Inc (CRDF, Financial) in one year is $2.83, suggesting a downside of 10.44% from the current price of $3.16. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Cardiff Oncology Inc (CRDF) Summary page.
