Onconova Therapeutics (NASDAQ:ONTX) has been given a $6.00 price objective by stock analysts at HC Wainwright in a research note issued on Tuesday, December 19th. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 227.87% from the stock’s current price.
A number of other analysts have also recently commented on the stock. Maxim Group set a $6.00 target price on shares of Onconova Therapeutics and gave the company a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research cut shares of Onconova Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, ValuEngine upgraded shares of Onconova Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $7.33.
Shares of Onconova Therapeutics (ONTX) traded up $0.02 during midday trading on Tuesday, hitting $1.83. 162,510 shares of the company traded hands, compared to its average volume of 160,111. The stock has a market capitalization of $19.60, a P/E ratio of -0.60 and a beta of 0.10. Onconova Therapeutics has a 12 month low of $1.21 and a 12 month high of $3.88.
Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.02. The business had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.29 million. Onconova Therapeutics had a negative net margin of 2,855.94% and a negative return on equity of 558.97%. analysts predict that Onconova Therapeutics will post -2.82 EPS for the current fiscal year.
Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Onconova Therapeutics by 58.4% in the 2nd quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock worth $190,000 after buying an additional 32,418 shares during the last quarter. 683 Capital Management LLC raised its position in Onconova Therapeutics by 21.0% in the 3rd quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 65,140 shares during the last quarter. Sabby Management LLC raised its position in Onconova Therapeutics by 104.0% in the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock worth $1,693,000 after buying an additional 399,640 shares during the last quarter. Finally, Tyndall Capital Partners L P raised its position in Onconova Therapeutics by 91.4% in the 2nd quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock worth $2,154,000 after buying an additional 476,190 shares during the last quarter. 25.44% of the stock is owned by institutional investors and hedge funds.
About Onconova Therapeutics
Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company operates through the identification and development of oncology therapeutics segment. It is focused on discovering and developing small molecule drug candidates to treat cancer. The Company has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells.
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