Onconova Therapeutics (ONTX) Gets a Buy Rating from Maxim Group

Maxim Group analyst Jason McCarthy assigned a Buy rating to Onconova Therapeutics (ONTXResearch Report) yesterday and set a price target of $1.25. The company’s shares closed last Monday at $0.44, close to its 52-week low of $0.10.

According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 11.2% and a 45.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Interpace Diagnostics Group, and SELLAS Life Sciences Group.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Onconova Therapeutics with a $1.65 average price target.

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The company has a one-year high of $4.00 and a one-year low of $0.10. Currently, Onconova Therapeutics has an average volume of 7.89M.

Based on the recent corporate insider activity of 22 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.