ValuEngine Upgrades Onconova Therapeutics (ONTX) to Hold

Onconova Therapeutics (NASDAQ:ONTX) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other equities analysts also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Onconova Therapeutics in a research report on Thursday, January 18th. Maxim Group downgraded Onconova Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Finally, Zacks Investment Research downgraded Onconova Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $8.00.

Onconova Therapeutics (NASDAQ ONTX) opened at $1.04 on Wednesday. The company has a market capitalization of $11.20, a P/E ratio of -0.15 and a beta of 0.22. Onconova Therapeutics has a fifty-two week low of $0.95 and a fifty-two week high of $3.88.

Onconova Therapeutics (NASDAQ:ONTX) last posted its earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.10. The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.31 million. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 3,061.37%. sell-side analysts predict that Onconova Therapeutics will post -1.41 EPS for the current fiscal year.

In other news, major shareholder 683 Capital Management, Llc bought 200,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average cost of $1.04 per share, for a total transaction of $208,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.30% of the company’s stock.

A hedge fund recently raised its stake in Onconova Therapeutics stock. Vanguard Group Inc. raised its position in shares of Onconova Therapeutics Inc (NASDAQ:ONTX) by 58.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,940 shares of the biopharmaceutical company’s stock after purchasing an additional 32,418 shares during the quarter. Vanguard Group Inc. owned 0.93% of Onconova Therapeutics worth $190,000 at the end of the most recent quarter. 12.72% of the stock is owned by institutional investors.

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Onconova Therapeutics Company Profile

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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