H.C. Wainwright analyst Joseph Pantginis upgraded Onconova to Buy from Neutral with an $11 price target. While the company has been in the "penalty box for quite some time" due to the prior rigosertib pivotal failures, the profile has changed "dramatically" as rigosertib has always been clinical active plus the addition of a "differentiated drug" in narazaciclib, the analyst tells investors in a research note. The analyst believes narazaciclib’s profile as a next-generation CDK 4/6 inhibitor continues to build a strong case as its multikinase targeting profile could allow it to improve tolerability and overcome resistance to approved CDK 4/6 inhibitors. As narazaciclib’s profile continues to build on the clinical front, it could attract significant partnering interest, says the firm.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ONTX:
- Onconova announces presentation of new preclinical data on narazaciclib
- Onconova says CMO Mark Gelder, M.D. passed away, Saunders appointed interim
- Onconova Therapeutics Announces the Unexpected Passing of Chief Medical Officer Dr. Mark Gelder
- Onconova, Pangea Biomed enter research collaboration
- Onconova Therapeutics and Pangea Biomed Enter into Research Collaboration to Identify Biomarkers of Response to Rigosertib