In a report released today, Ahu Demir from Noble Financial reiterated a Buy rating on Onconova Therapeutics (ONTX), with a price target of $1.30. The company’s shares closed last Wednesday at $1.06.
According to TipRanks.com, Demir is a 5-star analyst with an average return of 49.6% and a 56.6% success rate. Demir covers the Healthcare sector, focusing on stocks such as Dyadic International, Cocrystal Pharma, and TherapeuticsMD.
Onconova Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $1.65, which is a 50.0% upside from current levels. 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.
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. The company was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 and is headquartered in Newtown, PA.
