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Analysts retain ‘Buy’ rating on Onconova Therapeutics (NASDAQ: ONTX) despite Q1 losses

Fri 26 May 23, 07:00 AM | Akanksha Vashisht

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Onconova is a biopharmaceutical company centered towards developing and uncovering products that treat cancer. One of the latest developments for the company has been the initiation of the dosing in its treatment drug for endometrioid endometrial cancer Onconova also announced that the first participant has been dosed in another Phase 2 trial that is investigator-sponsored.

H C Wainwright gave Onconova stock a ‘Buy’ rating post the company’s latest announcement about drug testing. As per data available on Refinitiv, the mean recommendation rating on ONTX is 1.5 on a scale of one to five. Here one stands for ‘Strong Buy’ and five stands for 'Strong Sell’.

The data on Refinitiv suggests that two analysts gave the stock ‘Strong Buy’ rating. Two other analysts gave the ONTX stock a ‘Buy’ rating. The consensus mean price target on the stock is US$ 7.5, an upside potential of a whopping 525% over its closing price on May 25, 2023.

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