There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Palatin Technologies (AMEX: PTN) and Onconova Therapeutics (NASDAQ: ONTX) with bullish sentiments.
Palatin Technologies (AMEX: PTN)
In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Palatin Technologies (AMEX: PTN), with a price target of $5. The company’s shares opened today at $1.36.
According to TipRanks.com, Pantginis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -11.3% and a 38.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.
Palatin Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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Onconova Therapeutics (NASDAQ: ONTX)
Maxim Group analyst Jason McCarthy maintained a Buy rating on Onconova Therapeutics (NASDAQ: ONTX) today and set a price target of $3. The company’s shares opened today at $0.38, close to its 52-week low of $0.35.
McCarthy wrote:
“Onconova reported 1Q18 with a net loss of $5.1M and ending the period with $7.3M in cash. $28.75M raised in 2Q18, we estimate there is $34M in cash on the balance sheet and runway into 2H19. Multiple catalysts lay ahead, in our view, and not just from the INSPIRE P3 trial…oral rigosertib, rasopathies and the CDK.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 4.1% and a 44.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Onconova Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $5.25.
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