Shares in Cardiff Oncology could rise more than fourfold from current levels, according to Noble Capital Markets, which has initiated coverage of the biotech. Cardiff is developing a therapy targeting a form of colorectal cancer for which many standard treatments are ineffective.
Details
Noble Capital Markets initiated coverage of Cardiff Oncology with an “outperform” rating and a target price of $12 per share, implying upside of nearly 323% from the last close. Cardiff shares ended trading on Monday, January 5, at $2.84 per share.
Noble analyst Robert LeBoyer said Cardiff could deliver a breakthrough in cancer treatment due to the mechanism of action of its lead drug candidate, onvansertib. While the company is evaluating the therapy across several cancer types, its primary focus is colorectal cancer in patients with a specific mutation that occurs in about 45% of cases. That mutation is associated with a more aggressive disease and resistance to several standard therapies, the report said.
Interim trial data indicates that patients receiving onvansertib in combination with standard treatment respond more quickly and show improved progression-free survival compared with standard care alone, the company said. Cardiff plans to release updated clinical data in the first quarter of 2026.
About 150,000 new cases of colorectal cancer are diagnosed each year in the U.S., according to figures cited by Cardiff CEO Mark Erlander. Under current standard treatment, median progression-free survival is less than 12 months, with few promising therapies in development, he noted. That dynamic underpins the company’s optimism around onvansertib’s commercial and clinical potential.
Stock performance
Wall Street’s broader view on Cardiff stock is also positive, MarketWatch data indicates. The stock has eight “buy” ratings versus one “hold.” The average target price of $10.25 per share implies roughly 260% upside from the most recent closing price.
