Zacks: Analysts Anticipate Onconova Therapeutics Inc (ONTX) to Post -$0.72 EPS

Equities research analysts expect Onconova Therapeutics Inc (NASDAQ:ONTX) to announce earnings of ($0.72) per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Onconova Therapeutics’ earnings. Onconova Therapeutics posted earnings per share of ($0.54) in the same quarter last year, which indicates a negative year-over-year growth rate of 33.3%. The business is expected to announce its next quarterly earnings report on Monday, March 26th.

On average, analysts expect that Onconova Therapeutics will report full-year earnings of ($2.82) per share for the current year. For the next financial year, analysts forecast that the business will report earnings of ($2.06) per share. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Onconova Therapeutics.

Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.02. The company had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.29 million. Onconova Therapeutics had a negative net margin of 2,855.94% and a negative return on equity of 558.97%.

ONTX has been the topic of a number of recent research reports. HC Wainwright initiated coverage on shares of Onconova Therapeutics in a report on Monday, October 9th. They issued a “buy” rating and a $6.00 price objective on the stock. Maxim Group restated a “buy” rating and issued a $6.00 price objective on shares of Onconova Therapeutics in a report on Thursday, November 2nd. Finally, Zacks Investment Research cut shares of Onconova Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $7.33.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Onconova Therapeutics by 58.4% in the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock worth $190,000 after purchasing an additional 32,418 shares during the period. 683 Capital Management LLC grew its holdings in Onconova Therapeutics by 21.0% in the third quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock worth $641,000 after purchasing an additional 65,140 shares during the period. Sabby Management LLC grew its holdings in Onconova Therapeutics by 104.0% in the second quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock worth $1,693,000 after purchasing an additional 399,640 shares during the period. Finally, Tyndall Capital Partners L P grew its holdings in shares of Onconova Therapeutics by 91.4% during 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 buying an additional 476,190 shares during the last quarter. Institutional investors and hedge funds own 25.44% of the company’s stock.

Shares of Onconova Therapeutics (NASDAQ ONTX) traded down $0.01 on Tuesday, reaching $1.68. 159,300 shares of the company’s stock were exchanged, compared to its average volume of 180,800. The stock has a market capitalization of $18.10, a PE ratio of -0.55 and a beta of 0.10. Onconova Therapeutics has a twelve month low of $1.21 and a twelve month high of $3.88.

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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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