Onconova Therapeutics, Inc. (ONTX) Issues Earnings Results
Onconova Therapeutics, Inc. (NASDAQ:ONTX) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.02, Bloomberg Earnings reports. Onconova Therapeutics had a negative net margin of 2,855.94% and a negative return on equity of 2,456.10%. The company had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.29 million.
Shares of Onconova Therapeutics (NASDAQ:ONTX) traded down $0.32 during midday trading on Friday, hitting $1.54. 515,696 shares of the stock traded hands, compared to its average volume of 102,437. Onconova Therapeutics has a 1-year low of $1.46 and a 1-year high of $3.88.
An institutional investor recently raised its position in Onconova Therapeutics stock. Vanguard Group Inc. grew its stake in Onconova Therapeutics, Inc. (NASDAQ:ONTX) by 58.4% during the 2nd quarter, according to the company in its most recent disclosure 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 approximately 0.93% of Onconova Therapeutics worth $190,000 as of its most recent SEC filing. Institutional investors own 26.81% of the company’s stock.
ONTX has been the subject of a number of recent analyst reports. ValuEngine raised shares of Onconova Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. HC Wainwright reaffirmed a “buy” rating on shares of Onconova Therapeutics in a report on Thursday. Dawson James reaffirmed a “buy” rating on shares of Onconova Therapeutics in a report on Tuesday, July 25th. Finally, Maxim Group set a $6.00 price objective on shares of Onconova Therapeutics and gave the company a “buy” rating in a report on Tuesday, August 15th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $7.33.
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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