Analysts Set Expectations for Onconova Therapeutics, Inc.’s FY2023 Earnings (NASDAQ:ONTX)

Onconova Therapeutics, Inc. (NASDAQ:ONTX) – Investment analysts at HC Wainwright increased their FY2023 earnings per share estimates for Onconova Therapeutics in a research report issued to clients and investors on Wednesday, November 15th. HC Wainwright analyst J. Pantginis now forecasts that the biopharmaceutical company will earn ($0.94) per share for the year, up from their prior forecast of ($1.07). HC Wainwright has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Onconova Therapeutics’ current full-year earnings is ($1.10) per share. HC Wainwright also issued estimates for Onconova Therapeutics’ Q4 2023 earnings at ($0.23) EPS, FY2024 earnings at ($0.72) EPS, FY2025 earnings at ($0.86) EPS, FY2026 earnings at ($0.84) EPS and FY2027 earnings at ($0.98) EPS.

Separately, StockNews.com assumed coverage on Onconova Therapeutics in a report on Thursday. They set a “sell” rating on the stock.

Onconova Therapeutics Stock Performance

Shares of NASDAQ ONTX opened at $0.65 on Friday. The business’s 50 day moving average price is $0.69 and its 200-day moving average price is $0.94. Onconova Therapeutics has a fifty-two week low of $0.55 and a fifty-two week high of $1.49. The company has a market cap of $13.72 million, a price-to-earnings ratio of -0.67 and a beta of 1.70.

Institutional Trading of Onconova Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC raised its stake in shares of Onconova Therapeutics by 116.4% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 28,417 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 15,286 shares during the last quarter. Millennium Management LLC boosted its holdings in Onconova Therapeutics by 154.6% in the 2nd quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock worth $81,000 after buying an additional 37,275 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Onconova Therapeutics by 62.1% in the 2nd quarter. Renaissance Technologies LLC now owns 234,674 shares of the biopharmaceutical company’s stock worth $277,000 after buying an additional 89,880 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Onconova Therapeutics by 21.7% during the 3rd quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 110,965 shares during the last quarter. Institutional investors and hedge funds own 8.85% of the company’s stock.

Onconova Therapeutics Company Profile

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer in the United States. It has two clinical-stage programs, including narazaciclib, 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 study for the treatment of progressive K-Ras mutated non-small cell lung cancer.