HC Wainwright Raises OnKure PT to $34, Reiterates Buy Rating

HC Wainwright Raises OnKure PT to $34, Reiterates Buy Rating

Investment firm HC Wainwright & Co. has raised its price target for OnKure (ONKU) to $34, reiterating its "Buy" rating. The firm's latest assessment underscores its confidence in the clinical-stage biotech company's potential, which specializes in developing transformational biologics for immuno-oncology and immuno-inflammation diseases.

The new price target of $34 represents a significant increase from the previous target of $20, reflecting the firm's optimism about OnKure's pipeline and financial health. Analysts have consistently rated OnKure "Buy," with an average target price of $22.50, implying a potential 52.94% upside from the current price of $14.85 [1].

OnKure's recent financial results and business updates have shown significant progress in its oncology pipeline. The company's lead drug, givastomig, demonstrated an impressive 83% objective response rate in a Phase 1b study for first-line gastric cancers when combined with immunochemotherapy. This promising data, coupled with the company's strong cash position and operational efficiency, has positioned OnKure as a focused clinical-stage biotech with sufficient capital to reach meaningful data readouts [2].

The company's latest underwritten offering raised $61.2 million, extending its cash runway to Q4 2028. This funding will support the company's ongoing clinical trials and operational expenses. Additionally, OnKure has acquired Bridge Health, strengthening its intellectual property portfolio for givastomig and potentially improving the economics of its lead program [2].

Analysts from Needham have also maintained their "Buy" rating, with a price target of $20. This consistency in analyst ratings reflects the market's positive sentiment towards OnKure's pipeline and financial health [1].

OnKure's recent achievements, including its strong Q2 2025 results and promising clinical data, have solidified its position as a promising player in the biotech sector. As the company continues to advance its pipeline and strengthen its financial position, investors can expect to see further growth potential.

References:
[1] https://www.benzinga.com/quote/ONKU/report
[2] https://www.stocktitan.net/news/ONKU/i-mab-reports-second-quarter-2025-financial-results-and-provides-ypm4szpsgh4d.html