Oncternal Therapeutics Inc Upgraded to Buy After Positive Preclinical Findings and Merck Presents Results from Phase 2 Trial of Zilovertamab Vedotin

On September 18, 2023, HC Wainwright upgraded Oncternal Therapeutics Inc (NASDAQ:ONCT) from Neutral to Buy, setting a price target of $2. This upgrade comes after Oncternal presented their preliminary findings from preclinical investigations during the European Hematology Association meeting earlier this year. The investigations focused on T cells and natural killer (NK) cells expressing Oncternal’s ROR1 CAR, which includes the antigen-binding segment of zilovertamab. In vitro experiments showed that NK92 cells engineered with the anti-ROR1 CAR exhibited degranulation when exposed to ROR1+ cancer cells. Additionally, in vivo studies demonstrated that anti-ROR1 CAR T cells displayed significant anti-tumor activity against JeKo-1, a rapidly proliferating mantle cell lymphoma (MCL) line.

During the 2023 annual American Society of Clinical Oncology meeting, Merck & Co Inc (NYSE:MRK) presented initial results from the Phase 2 waveLINE-004 trial of zilovertamab vedotin (MK-2140). Merck acquired this ROR1-targeted ADC through their purchase of VelosBio for approximately $2.8B in 2020. The trial focused on r/r DLBCL patients who had either progressed after or were ineligible for autologous stem cell therapy. Zilovertamab vedotin achieved an overall response rate (ORR) of 30% (with a complete response rate of 10%) in 20 efficacy-evaluable patients. These results are consistent with the 29% ORR observed in r/r DLBCL patients (n=17) during the Phase 1 waveLINE-001 trial.

Looking ahead, Oncternal plans to initiate a Phase 1/2 study of ONCT-534 shortly after submitting an Investigational New Drug (IND) application in mid-2023. They expect to release initial clinical data in the near future. Additionally, preclinical models have shown that ONCT-808 exhibits activity against cancer.

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ONCT Stock Analysis: Stable Performance but Concerning Earnings and Revenue Growth

ONCT stock had a relatively stable performance on September 18, 2023. The stock’s previous close was $0.35, and it opened at the same price. Throughout the day, the stock traded within a range of $0.33 to $0.35. The volume for the day was 4,613 shares.

ONCT has a market cap of $20.6 million. The earnings growth for the company has been mixed. While it experienced a decline of 32.19% in earnings growth last year, it has seen a positive growth of 27.04% this year. However, the earnings growth forecast for the next five years is 0.00%.

The revenue growth for ONCT has been negative, with a decline of 65.47% in the previous year. The P/E ratio for ONCT is not available. The price/sales ratio is 35.30, and the price/book ratio is 0.33.

In terms of other stocks in the sector, PTN saw a positive change of $0.04 or 2.22%, MBI had a negative change of $0.02 or -0.79%, NRP experienced a negative change of $0.01 or -1.80%, and COCP had a positive change of $0.10 or 5.05%.

ONCT is scheduled to report its next earnings on November 9, 2023. The EPS forecast for this quarter is -$0.14. In the previous year, the company generated an annual revenue of $1.5 million but incurred a loss of -$44.2 million. The net profit margin for ONCT is -2,964.43%.

ONCT operates in the health technology sector, specifically in the pharmaceuticals: major industry. However, no executives are currently listed for the company. The corporate headquarters of ONCT is located in San Diego, California.

Overall, ONCT had a relatively stable performance on September 18, 2023. However, the negative earnings growth and declining revenue may be concerning for investors. It will be important to monitor the company’s upcoming earnings report and future developments to assess its financial health and potential for growth.

Stock Performance of Oncternal Therapeutics Inc (ONCT) Shows Promising Signs: Analysts Predict Significant Increase in Target Price

On September 18, 2023, the stock performance of Oncternal Therapeutics Inc (ONCT) showed promising signs. The 12-month price forecasts from two analysts indicated a median target of $1.90, with a high estimate of $2.50 and a low estimate of $1.30. This median estimate represents a significant increase of 469.20% from the last recorded price of $0.33.

The consensus among five polled investment analysts was to hold stock in Oncternal Therapeutics Inc. This rating has remained steady since August, indicating a consistent belief in the company’s potential.

In the current quarter, Oncternal Therapeutics Inc reported an earnings per share of -$0.14. On the sales front, Oncternal Therapeutics Inc generated $145.8K in revenue during the reporting period.

Investors should pay attention to the reporting date of November 9, as it may provide further insights into Oncternal Therapeutics Inc’s financial performance and potential future developments.

It is important to note that investing in stocks carries risks, and past performance is not indicative of future results. Investors should conduct thorough research, consider their risk tolerance, and consult with a financial advisor before making any investment decisions.

Overall, the stock performance of Oncternal Therapeutics Inc on September 18, 2023, indicated positive sentiment among analysts, with a median target price representing a significant increase from the last recorded price. However, investors should carefully evaluate all available information and consider their own investment strategy before making any decisions.

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