Onconova Therapeutics’ (ONTX) “Buy” Rating Reaffirmed at HC Wainwright
Onconova Therapeutics (NASDAQ:ONTX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Thursday. They presently have a $6.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 248.84% from the stock’s previous close.
A number of other equities research analysts have also recently commented on ONTX. Maxim Group reaffirmed a “buy” rating and set a $6.00 price objective on shares of Onconova Therapeutics in a research note on Thursday, November 2nd. Zacks Investment Research cut shares of Onconova Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $7.33.
Shares of Onconova Therapeutics (ONTX) traded down $0.02 during midday trading on Thursday, hitting $1.72. 5,524,800 shares of the stock were exchanged, compared to its average volume of 645,518. The firm has a market cap of $16.15, a PE ratio of -0.57 and a beta of 0.10. Onconova Therapeutics has a twelve month low of $1.21 and a twelve month high of $3.88.
Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $0.29 million. Onconova Therapeutics had a negative net margin of 2,855.94% and a negative return on equity of 558.97%. sell-side analysts anticipate that Onconova Therapeutics will post -2.82 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. 683 Capital Management LLC grew its stake in shares of Onconova Therapeutics by 21.0% during the 3rd 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. Tyndall Capital Partners L P grew its stake in shares of 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 purchasing an additional 476,190 shares during the period. Sabby Management LLC lifted its position in shares of Onconova Therapeutics by 104.0% during the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after buying an additional 399,640 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Onconova Therapeutics by 58.4% during the 2nd quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after buying an additional 32,418 shares in the last quarter. 25.44% of the stock is currently owned by institutional investors and hedge funds.
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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