Maxim Group set a $6.00 price target on Onconova Therapeutics (NASDAQ:ONTX) in a report issued on Thursday, November 9th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
“Onconova reported 3Q17 with a net loss of $7M and ended the period with $7.6M in cash. We forecast that Onconova will need to raise capital. The question then is, at what valuation and how much? The next catalyst for the company is the interim analysis of the INSPIRE pivotal phase 3 trial in Myelodysplastic Syndrome, which is expected in 4Q17. The interim analysis is dependent on reaching 88 events (deaths). Several scenarios could play out which we have profiled in prior notes and below. Conclusion: Good data will drive this company and set the stage to raise additional capital.”,” the firm’s analyst commented.
A number of other equities analysts have also commented on the company. Dawson James reissued a buy rating on shares of Onconova Therapeutics in a research note on Tuesday, July 25th. HC Wainwright initiated coverage on Onconova Therapeutics in a research note on Monday, October 9th. They set a buy rating and a $6.00 price target for the company. Finally, ValuEngine raised Onconova Therapeutics from a strong sell rating to a sell rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $7.33.
Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.02. The business had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.29 million. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 2,855.94%. analysts predict that Onconova Therapeutics will post -2.82 EPS for the current year.
Several large investors have recently made changes to their positions in ONTX. Tyndall Capital Partners L P grew its stake in Onconova Therapeutics by 91.4% during 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. Sabby Management LLC lifted its position in Onconova Therapeutics by 104.0% during the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock worth $1,693,000 after acquiring an additional 399,640 shares during the period. Finally, Vanguard Group Inc. lifted its position in Onconova Therapeutics by 58.4% during the 2nd quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock worth $190,000 after acquiring an additional 32,418 shares during the period. Institutional investors and hedge funds own 25.44% of the company’s stock.
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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