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 $2.32, close to its 52-week low of $1.69.
McCarthy noted:
“Though RAS is one of the most well-known genetic drivers of cancer (>30% of cancers harbor a RAS mutation), for nearly four decades, development of a RAS inhibitor appeared elusive. The question is where is the space now? The answer, in our view, is back in the limelight thanks to Amgen (AMG-NR) and it should augur well for others, including Onconova.”
According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -23.3% and a 22.5% 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, representing a 541.0% upside. In a report released today, Noble Financial also maintained a Buy rating on the stock with a $12 price target.
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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 32.99K.
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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.
