Onconova Therapeutics (NASDAQ:ONTX) Announces Earnings Results

Onconova Therapeutics (NASDAQ:ONTXGet Rating) released its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01), MarketWatch Earnings reports. Onconova Therapeutics had a negative return on equity of 38.96% and a negative net margin of 7,151.77%. During the same period last year, the company posted ($0.30) EPS.

Onconova Therapeutics stock opened at $1.04 on Friday. The stock has a 50-day moving average price of $1.60 and a 200 day moving average price of $2.21. Onconova Therapeutics has a 52 week low of $1.00 and a 52 week high of $16.50.

Several research firms have recently issued reports on ONTX. LADENBURG THALM/SH SH began coverage on Onconova Therapeutics in a research note on Tuesday, March 1st. They set a “buy” rating and a $7.00 price target for the company. Zacks Investment Research raised Onconova Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research note on Wednesday, March 23rd. StockNews.com began coverage on Onconova Therapeutics in a research note on Tuesday. They set a “hold” rating for the company. Finally, Noble Financial reaffirmed a “buy” rating and set a $11.00 price target on shares of Onconova Therapeutics in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $8.00.

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Onconova Therapeutics in the 4th quarter valued at about $31,000. Millennium Management LLC purchased a new stake in Onconova Therapeutics in the 4th quarter valued at about $35,000. Goldman Sachs Group Inc. purchased a new stake in Onconova Therapeutics in the 3rd quarter valued at about $57,000. Morgan Stanley grew its holdings in Onconova Therapeutics by 130.5% in the 1st quarter. Morgan Stanley now owns 116,796 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 66,130 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Onconova Therapeutics in the 4th quarter valued at about $341,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.

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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Earnings History for Onconova Therapeutics (NASDAQ:ONTX)

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