Zacks: Onconova Therapeutics, Inc. (NASDAQ:ONTX) Given $5.50 Consensus Price Target by Brokerages
Shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 12 month consensus price objective of $5.50 for the company, according to Zacks. Zacks has also given Onconova Therapeutics an industry rank of 168 out of 265 based on the ratings given to its competitors.
Several research firms have commented on ONTX. Maxim Group set a $6.00 price objective on shares of Onconova Therapeutics and gave the company a “buy” rating in a report on Monday, May 15th. Laidlaw assumed coverage on shares of Onconova Therapeutics in a research note on Thursday, April 27th. They issued a “buy” rating and a $10.00 target price on the stock.
Onconova Therapeutics (NASDAQ:ONTX) traded down 0.96% on Wednesday, reaching $2.07. 12,499 shares of the company were exchanged. The company’s 50-day moving average price is $2.01 and its 200-day moving average price is $2.47. Onconova Therapeutics has a 12-month low of $1.78 and a 12-month high of $5.02. The stock’s market capitalization is $19.64 million.
Onconova Therapeutics (NASDAQ:ONTX) last posted its quarterly earnings results on Monday, May 15th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by $0.27. The company had revenue of $0.21 million for the quarter. Onconova Therapeutics had a negative net margin of 485.01% and a negative return on equity of 574.49%. Equities research analysts anticipate that Onconova Therapeutics will post ($3.28) earnings per share for the current fiscal year.
In other Onconova Therapeutics news, insider Ramesh Kumar purchased 23,810 shares of Onconova Therapeutics stock in a transaction on Wednesday, April 26th. The shares were acquired at an average cost of $2.10 per share, for a total transaction of $50,001.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E Premkumar Reddy purchased 119,048 shares of Onconova Therapeutics stock in a transaction on Wednesday, April 26th. The shares were acquired at an average price of $2.10 per share, for a total transaction of $250,000.80. Following the completion of the transaction, the director now directly owns 385,832 shares of the company’s stock, valued at $810,247.20. The disclosure for this purchase can be found here. Insiders have acquired 144,287 shares of company stock worth $303,003 over the last quarter. Company insiders own 27.30% of the company’s stock.
An institutional investor recently raised its position in Onconova Therapeutics stock. Renaissance Technologies LLC raised its position in shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) by 27.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 122,700 shares of the biopharmaceutical company’s stock after buying an additional 26,200 shares during the period. Renaissance Technologies LLC owned 1.82% of Onconova Therapeutics worth $279,000 as of its most recent SEC filing. 15.44% of the stock is currently owned by hedge funds and other institutional investors.
Onconova Therapeutics Company Profile
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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