Maxim Group analyst Jason McCarthy maintained a Buy rating on Onconova Therapeutics (ONTX) yesterday and set a price target of $8. The company’s shares closed last Monday at $2.65, close to its 52-week low of $1.69.
McCarthy said:
“Conference being held in Barcelona this weekend, Amgen (AMGN – NR) reported more positive data from its ongoing Phase 1 study evaluating KRAS inhibitor AMG 510, which we believe is a net positive for the entire RAS space. This means Onconova too, in our view.”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -21.7% and a 24.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Inc., Hancock Jaffe Laboratories Inc, and Aridis Pharmaceuticals Inc.
Onconova Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $15.
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The company has a one-year high of $11.17 and a one-year low of $1.69. Currently, Onconova Therapeutics has an average volume of 28.36K.
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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.
