Promising Preclinical Results From Blood Cancer Propel Oncternal To Buy Rating
Portfolio Pulse from Vandana Singh
HC Wainwright has upgraded Oncternal Therapeutics Inc (NASDAQ:ONCT) to Buy from Neutral with a price target of $2. The upgrade follows promising preclinical results from blood cancer investigations. However, Oncternal's shares are down 3.11% at $0.34. Merck & Co Inc (NYSE:MRK) also presented initial results from the Phase 2 waveLINE-004 trial of zilovertamab vedotin, a ROR1-targeted ADC that Merck acquired for approximately $2.8B in 2020.
September 18, 2023 | 7:00 pm
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POSITIVE IMPACT
Oncternal Therapeutics has been upgraded to Buy from Neutral by HC Wainwright following promising preclinical results. However, its shares are down 3.11%.
The upgrade by HC Wainwright is a positive signal for the company. However, the drop in share price indicates market skepticism or other factors influencing the stock negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Merck & Co Inc presented initial results from the Phase 2 waveLINE-004 trial of zilovertamab vedotin, a ROR1-targeted ADC that Merck acquired for approximately $2.8B in 2020.
The presentation of initial results from the Phase 2 trial is a neutral event for Merck. It neither indicates a positive nor negative impact on the stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50