H.C. Wainwright Sticks to Their Buy Rating for Onconova Therapeutics (ONTX)


H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Onconova Therapeutics (ONTX) yesterday and set a price target of $25. The company’s shares closed last Monday at $2.28, close to its 52-week low of $1.69.

Pantginis noted:

“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 -13.0% and a 28.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Inc., Applied Genetic Technologies, and Iovance Biotherapeutics Inc.

Onconova Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $15, a 543.8% upside from current levels. In a report issued on August 13, Noble Financial also maintained a Buy rating on the stock with a $12 price target.

See today’s analyst top recommended stocks >>

Based on Onconova Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.56 million. In comparison, last year the company had a GAAP net loss of $4.48 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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts