Onconova Therapeutics (ONTX) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Onconova Therapeutics (NASDAQ:ONTX) from a hold rating to a buy rating in a research note published on Saturday morning. They currently have $0.50 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Onconova Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company. It focuses on discovering and developing small molecule drug candidates to treat cancer. The Company’s products under different phases of development include Rigosertib intravenous (IV), Rigosertib Oral, Rigosertib IV, ON 013105 and Recilisib. Onconova Therapeutics, Inc. is headquartered in Newtown, Pennsylvania. “
Other analysts also recently issued research reports about the company. HC Wainwright set a $3.00 price objective on Onconova Therapeutics and gave the stock a buy rating in a research note on Tuesday, August 14th. Maxim Group reaffirmed a buy rating and issued a $3.00 price objective on shares of Onconova Therapeutics in a research note on Tuesday, August 14th. Finally, ValuEngine raised Onconova Therapeutics from a hold rating to a buy rating in a research note on Wednesday, May 2nd.
Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings data on Tuesday, August 14th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. The firm had revenue of $0.49 million during the quarter, compared to the consensus estimate of $0.52 million. sell-side analysts expect that Onconova Therapeutics will post -0.34 earnings per share for the current year.
An institutional investor recently raised its position in Onconova Therapeutics stock. Renaissance Technologies LLC lifted its stake in Onconova Therapeutics Inc (NASDAQ:ONTX) by 456.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 819,712 shares of the biopharmaceutical company’s stock after purchasing an additional 672,312 shares during the quarter. Renaissance Technologies LLC owned about 1.06% of Onconova Therapeutics worth $332,000 at the end of the most recent reporting period. Institutional investors own 9.41% of the company’s stock.
Onconova Therapeutics Company Profile
Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule product candidates to treat cancer. Its product candidates include Rigosertib IV, which is in Phase III clinical trial for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trial for patients with higher-risk MDS; and Rigosertib oral, which is in Phase II clinical trial for patients with lower risk MDS.
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