Maxim Group analyst Naureen Quibria maintained a Buy rating on Onconova Therapeutics (ONTX) yesterday and set a price target of $3.00. The company’s shares closed last Thursday at $1.01.
According to TipRanks.com, Quibria is a 3-star analyst with an average return of 5.5% and a 52.6% success rate. Quibria covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Inovio Pharmaceuticals, and Galmed Pharmaceuticals.
Onconova Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $2.10, representing a 100.0% upside. In a report issued on July 30, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.00 price target.
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Based on Onconova Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $52K and GAAP net loss of $5.09 million. In comparison, last year the company earned revenue of $68K and had a GAAP net loss of $7.6 million.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ONTX in relation to earlier this year.
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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. The company was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 and is headquartered in Newtown, PA.
