Onconova Therapeutics Inc (ONTX) Given Consensus Rating of “Buy” by Analysts

Onconova Therapeutics Inc (NASDAQ:ONTX) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $9.00.

A number of analysts have recently commented on the company. Maxim Group reissued a “hold” rating on shares of Onconova Therapeutics in a research report on Thursday, March 8th. ValuEngine raised Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 14th. Zacks Investment Research raised Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.50 price target (up from $6.00) on shares of Onconova Therapeutics in a research report on Thursday, March 1st.

Shares of Onconova Therapeutics stock opened at $1.03 on Thursday. Onconova Therapeutics has a 12-month low of $0.95 and a 12-month high of $3.88. The company has a market capitalization of $20.08, a P/E ratio of -0.37 and a beta of 0.22.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.10. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 3,061.37%. The firm had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.31 million. equities analysts anticipate that Onconova Therapeutics will post -1.41 EPS for the current year.

In other Onconova Therapeutics news, major shareholder 683 Capital Management, Llc acquired 200,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average cost of $1.04 per share, with a total value of $208,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.30% of the company’s stock.

A hedge fund recently raised its stake in Onconova Therapeutics stock. Vanguard Group Inc. boosted its holdings in Onconova Therapeutics Inc (NASDAQ:ONTX) by 58.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,940 shares of the biopharmaceutical company’s stock after acquiring an additional 32,418 shares during the quarter. Vanguard Group Inc. owned 0.93% of Onconova Therapeutics worth $190,000 at the end of the most recent quarter. 12.72% of the stock is owned by institutional investors and hedge funds.

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About Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company operates through the identification and development of oncology therapeutics segment. It is focused on discovering and developing small molecule drug candidates to treat cancer. The Company has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells.

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