Onconova Therapeutics, Inc. (NASDAQ:ONTX) Given Consensus Rating of “Strong Buy” by Analysts
Shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus price objective of $5.50 for the company, according to Zacks. Zacks has also given Onconova Therapeutics an industry rank of 164 out of 265 based on the ratings given to its competitors.
Several analysts have recently issued reports on the stock. Maxim Group set a $6.00 target price on shares of Onconova Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Laidlaw assumed coverage on shares of Onconova Therapeutics in a research note on Thursday, April 27th. They issued a “buy” rating and a $10.00 target price for the company.
Onconova Therapeutics (ONTX) traded down 0.46% on Tuesday, reaching $2.16. 42,184 shares of the company were exchanged. The stock’s market capitalization is $20.49 million. The company’s 50-day moving average price is $2.01 and its 200-day moving average price is $2.47. Onconova Therapeutics has a 12-month low of $1.78 and a 12-month high of $5.93.
Onconova Therapeutics (NASDAQ:ONTX) last posted its earnings results on Monday, May 15th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by $0.27. Onconova Therapeutics had a negative return on equity of 574.49% and a negative net margin of 485.01%. The firm had revenue of $0.21 million during the quarter. Equities research analysts anticipate that Onconova Therapeutics will post ($3.28) earnings per share for the current fiscal year.
In other news, insider Ramesh Kumar bought 23,810 shares of Onconova Therapeutics stock in a transaction dated Wednesday, April 26th. The stock was purchased at an average price of $2.10 per share, for a total transaction of $50,001.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director E Premkumar Reddy bought 119,048 shares of Onconova Therapeutics stock in a transaction dated Wednesday, April 26th. The stock was purchased at an average price of $2.10 per share, with a total value of $250,000.80. Following the purchase, the director now owns 385,832 shares in the company, valued at $810,247.20. The disclosure for this purchase can be found here. In the last quarter, insiders bought 144,287 shares of company stock valued at $303,003. Company insiders own 27.30% of the company’s stock.
An institutional investor recently raised its position in Onconova Therapeutics stock. Vanguard Group Inc. boosted its stake in Onconova Therapeutics, Inc. (NASDAQ:ONTX) by 22.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,522 shares of the biopharmaceutical company’s stock after buying an additional 10,350 shares during the period. Vanguard Group Inc. owned approximately 0.82% of Onconova Therapeutics worth $169,000 as of its most recent filing with the SEC. Institutional investors own 15.44% of the company’s stock.
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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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