Equities researchers at HC Wainwright started coverage on shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) in a report issued on Monday, October 9th, MarketBeat.com reports. The brokerage set a “buy” rating and a $6.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 144.90% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Maxim Group set a $6.00 price target on Onconova Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Dawson James reiterated a “buy” rating on shares of Onconova Therapeutics in a research report on Tuesday, July 25th. Finally, ValuEngine upgraded Onconova Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Onconova Therapeutics presently has an average rating of “Buy” and an average target price of $7.33.
Shares of Onconova Therapeutics (NASDAQ:ONTX) opened at 2.45 on Monday. The stock’s market cap is $24.13 million. The stock’s 50 day moving average is $1.92 and its 200-day moving average is $2.04. Onconova Therapeutics has a one year low of $1.46 and a one year high of $3.88.
Onconova Therapeutics (NASDAQ:ONTX) last posted its quarterly earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.43. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 762.13%. The firm had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.25 million. On average, equities analysts forecast that Onconova Therapeutics will post ($2.86) EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ONTX. Tyndall Capital Partners L P lifted its holdings in shares of Onconova Therapeutics by 91.4% in the second quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock valued at $2,154,000 after purchasing an additional 476,190 shares in the last quarter. Sabby Management LLC grew its position in shares of Onconova Therapeutics by 104.0% in the second quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after purchasing an additional 399,640 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Onconova Therapeutics by 58.4% in the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 32,418 shares during the last quarter. Institutional investors own 26.83% of the company’s stock.
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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