Onconova Therapeutics Trading Down 5.6% on Disappointing Earnings (ONTX)
Onconova Therapeutics (NASDAQ:ONTX)’s share price traded down 5.6% during mid-day trading on Tuesday following a dissappointing earnings announcement, Analyst Ratings.Net reports. The stock traded as low as $5.00 and last traded at $5.02, with a volume of 405,465 shares changing hands. The stock had previously closed at $5.32.
The company reported ($0.87) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.78) by $0.09.
ONTX has been the subject of a number of recent research reports. Analysts at Leerink Swann cut their price target on shares of Onconova Therapeutics from $37.00 to $14.00 in a research note on Thursday, February 20th. Separately, analysts at Janney Montgomery Scott downgraded shares of Onconova Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 20th. They now have a $10.00 price target on the stock, down previously from $40.00. Finally, analysts at Piper Jaffray downgraded shares of Onconova Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 20th. They now have a $9.00 price target on the stock, down previously from $38.00.
The stock’s 50-day moving average is $5.8 and its 200-day moving average is $10.8. The company’s market cap is $108.6 million.
Onconova Therapeutics, Inc (NASDAQ:ONTX) is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule drug candidates to treat cancer.
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