Onconova Therapeutics (NASDAQ:ONTX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Onconova Therapeutics (NASDAQ:ONTXGet Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the company. LADENBURG THALM/SH SH started coverage on Onconova Therapeutics in a research report on Tuesday, March 1st. They issued a “buy” rating and a $7.00 target price on the stock. Zacks Investment Research downgraded shares of Onconova Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 19th. Finally, Noble Financial restated a “buy” rating and issued a $11.00 price target on shares of Onconova Therapeutics in a research note on Thursday, May 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Onconova Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $8.00.

ONTX stock opened at $1.08 on Thursday. The firm has a market cap of $22.57 million, a PE ratio of -1.27 and a beta of 1.80. The firm’s 50 day moving average price is $1.50 and its 200-day moving average price is $2.04. Onconova Therapeutics has a one year low of $1.00 and a one year high of $8.00.

Onconova Therapeutics (NASDAQ:ONTXGet Rating) last announced its earnings results on Wednesday, May 11th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Onconova Therapeutics had a negative net margin of 6,889.38% and a negative return on equity of 36.41%. During the same period in the previous year, the business posted ($0.30) earnings per share. On average, sell-side analysts forecast that Onconova Therapeutics will post -0.79 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. CVI Holdings LLC acquired a new position in shares of Onconova Therapeutics during the third quarter worth $493,000. Pura Vida Investments LLC acquired a new position in shares of Onconova Therapeutics during the third quarter worth $575,000. GSA Capital Partners LLP acquired a new position in shares of Onconova Therapeutics during the third quarter worth $922,000. Geode Capital Management LLC grew its stake in shares of Onconova Therapeutics by 24.1% during the third quarter. Geode Capital Management LLC now owns 177,430 shares of the biopharmaceutical company’s stock worth $679,000 after purchasing an additional 34,450 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Onconova Therapeutics by 140.8% during the first quarter. Renaissance Technologies LLC now owns 321,743 shares of the biopharmaceutical company’s stock worth $592,000 after purchasing an additional 188,116 shares in the last quarter. 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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