Onconova Therapeutics (NASDAQ:ONTX) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Onconova Therapeutics (NASDAQ:ONTX – Get Rating) in a report released on Monday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on ONTX. Zacks Investment Research upgraded shares of Onconova Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research note on Wednesday, March 23rd. LADENBURG THALM/SH SH started coverage on shares of Onconova Therapeutics in a research note on Tuesday, March 1st. They issued a “buy” rating and a $7.00 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Onconova Therapeutics presently has a consensus rating of “Buy” and an average price target of $8.00.

NASDAQ:ONTX opened at $1.39 on Monday. The firm has a market cap of $29.05 million, a P/E ratio of -1.46 and a beta of 1.78. Onconova Therapeutics has a fifty-two week low of $1.36 and a fifty-two week high of $16.50. The firm has a 50-day simple moving average of $1.66 and a two-hundred day simple moving average of $2.32.

Onconova Therapeutics (NASDAQ:ONTX – Get Rating) last released its quarterly earnings data on Thursday, March 17th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter. The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.08 million. Onconova Therapeutics had a negative net margin of 7,151.77% and a negative return on equity of 38.96%. During the same quarter in the prior year, the business posted ($0.45) earnings per share. Sell-side analysts anticipate that Onconova Therapeutics will post -0.76 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP purchased a new position in shares of Onconova Therapeutics in the third quarter worth approximately $922,000. Geode Capital Management LLC lifted its holdings in Onconova Therapeutics by 24.1% during the third quarter. Geode Capital Management LLC now owns 177,430 shares of the biopharmaceutical company’s stock valued at $679,000 after purchasing an additional 34,450 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Onconova Therapeutics during the third quarter valued at approximately $635,000. Pura Vida Investments LLC purchased a new position in Onconova Therapeutics during the third quarter valued at approximately $575,000. Finally, Renaissance Technologies LLC purchased a new position in Onconova Therapeutics during the fourth quarter valued at approximately $341,000. 18.88% of the stock is currently owned by institutional investors.

Onconova Therapeutics Company Profile (Get Rating)

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer. It has two clinical-stage programs, including narazaciclib (ON 123300), a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with PD-1 inhibitor, which is in Phase I/IIa for the treatment of progressive K-Ras mutated non-small cell lung cancer.

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