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Fly News Breaks for March 27, 2019
CANF
Mar 27, 2019 | 07:13 EDT
H.C. Wainwright analyst Vernon Bernardino recommends Can-Fite BioPharma shares, especially on weakness, based on expectations for positive catalysts with piclidenoson in 2019. The company yesterday announced that its Phase 2 study with namodenoson in hepatocellular carcinoma did not achieve its primary endpoint of overall survival. The analyst, however, did not have this indication in his model and thinks the stock pullback yesterday is unwarranted. He recommends Can-Fite shares based on the potential for second half of 2019 data readouts from Phase 3 studies with its lead candidate piclidenoson in rheumatoid arthritis and psoriasis to be positive. Bernardino reiterates a Buy rating on Can-Fite BioPharma with a $3 price target. The stock closed yesterday down 28%, or 36c, to 93c.