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 (ONTX), with a price target of $25. The company’s shares opened today at $2.15, close to its 52-week low of $1.69.

Pantginis observed:

“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 has 0 stars on 0-5 star ranking scale with an average return of -26.9% and a 19.7% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.

Currently, the analyst consensus on Onconova Therapeutics is a Moderate Buy with an average price target of $20.50.

See today’s analyst top recommended stocks >>

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.