ONCT - Oppenheimer sees ~62% rise in shares of Oncternal Therapeutics

Oppenheimer has initiated shares of Oncternal Therapeutics (ONCT) with an outperform rating.Analyst Hartaj Singh has a $14 price target on shares.Given yesterday's closing price, that represents upside of ~62%.He sees promise in shares because of a favorable risk/benefit profile of its lead asset, cirmtuzumab, in mantle cell lymphoma and chronic lymphocytic leukemia.In November, data from a phase 1/2 trial of cirmtuzumab in combination with AbbVie and J&J's Imbruvica (ibrutinib) skyrocketed the share price.Singh also highlights TK-216, currently in phase 1 for Ewing's sarcoma, as having potential for accelerated approval.Oncternal shares are down 0.6% to $8.61 in morning trading.

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Oppenheimer sees ~62% rise in shares of Oncternal Therapeutics