H.C. Wainwright Thinks Onconova Therapeutics’ Stock is Going to Recover


In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Onconova Therapeutics (NASDAQ: ONTX), with a price target of $3. The company’s shares opened today at $0.43, close to its 52-week low of $0.33.

Pantginis noted:

“Valuation and risks to price target achievement. We reiterate our Buy rating and $3 price target. Our clinical NPV model 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 has 0 stars on 0-5 star ranking scale with an average return of -11.9% and a 32.2% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Onconova Therapeutics with a $3 average price target, representing a 597.7% upside. In a report released today, Maxim Group also maintained a Buy rating on the stock with a $3 price target.

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The company has a one-year high of $2.83 and a one-year low of $0.33. Currently, Onconova Therapeutics has an average volume of 2.34M.

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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.

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