H.C. Wainwright Keeps Their Buy Rating on Onconova Therapeutics (ONTX)
In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Onconova Therapeutics (ONTX), with a price target of $25. The company’s shares closed yesterday at $3.39, close to its 52-week low of $1.69.
“Valuation and risks to price target achievement. We reiterate our Buy rating and $25 price target. Our clinical NPV model, driven by rigostertib in MDS, allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway. Onconova Therapeutics, Inc.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -20.7% and a 24.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Onconova Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $20.50.
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Based on Onconova Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $5.35 million. In comparison, last year the company had a GAAP net loss of $6.21 million.
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Onconova Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the identification and development of oncology therapeutics. It focuses on discovering and developing small molecule drug candidates to treat cancer.