Why Cardiff Oncology Stock Skyrocketed Today

Shares of Cardiff Oncology (NASDAQ: CRDF) were skyrocketing 21.1% higher as of 3:07 p.m. EDT on Thursday. The big jump came after Piper Sandler analyst Joseph Catanzaro initiated coverage on the stock with an overweight rating. Catanzaro also set a price target for Cardiff of $25, which reflects an 85% premium over the stock's closing price on Wednesday.

Analysts may or may not be right with their ratings and price targets. However, it's prudent for investors to learn why an analyst is optimistic or pessimistic about a given stock.

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Source Fool.com