William Blair analyst Andy Hsieh has reiterated their bullish stance on CRDF stock, giving a Buy rating on June 3.
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Andy Hsieh has given his Buy rating due to a combination of factors surrounding Cardiff Oncology’s recent developments. Despite the delay in the Phase II CRDF-004 trial readout and changes in the company’s executive team, Hsieh remains confident in the company’s potential. The delay in the trial readout is attributed to the company’s intention to present more comprehensive data, which aligns with their previous guidance of evaluating close to 90 patients.
Furthermore, the appointment of Dr. Roger Sidhu as the new chief medical officer is seen as a strategic move. Dr. Sidhu’s extensive experience in late-stage development in oncology positions Cardiff well as it transitions into a pivotal-stage biotech company. Hsieh’s optimism is grounded in the solid clinical data generated so far, which supports the potential for positive outcomes in the upcoming trial readout. As such, he anticipates that positive data could significantly enhance the stock’s value and advance the development of Onvansertib.
According to TipRanks, Hsieh is a 4-star analyst with an average return of 6.0% and a 44.39% success rate. Hsieh covers the Healthcare sector, focusing on stocks such as Cardiff Oncology, Skye Bioscience, and Elevation Oncology.
In another report released on June 3, Piper Sandler also reiterated a Buy rating on the stock with a $10.00 price target.