Onconova Therapeutics, Inc. (NASDAQ:ONTX) has been assigned a $6.00 target price by stock analysts at Maxim Group in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price objective would suggest a potential upside of 214.14% from the company’s current price.

Other equities analysts also recently issued reports about the company. Laidlaw assumed coverage on Onconova Therapeutics in a research note on Thursday, April 27th. They issued a “buy” rating and a $10.00 price target on the stock. Dawson James restated a “buy” rating on shares of Onconova Therapeutics in a research note on Tuesday, July 25th.

Shares of Onconova Therapeutics (NASDAQ:ONTX) traded down 5.76% during mid-day trading on Tuesday, reaching $1.80. The company had a trading volume of 46,606 shares. The company has a 50 day moving average price of $2.05 and a 200 day moving average price of $2.37. The company’s market capitalization is $17.08 million. Onconova Therapeutics has a one year low of $1.78 and a one year high of $4.12.

Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.43. The firm had revenue of $0.32 million for the quarter, compared to the consensus estimate of $0.25 million. Onconova Therapeutics had a negative return on equity of 574.49% and a negative net margin of 485.01%. On average, analysts anticipate that Onconova Therapeutics will post ($3.29) EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Onconova Therapeutics by 27.2% in the fourth quarter. Renaissance Technologies LLC now owns 122,700 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 26,200 shares during the period. Vanguard Group Inc. boosted its position in shares of Onconova Therapeutics by 58.4% in the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock worth $190,000 after buying an additional 32,418 shares in the last quarter. Finally, Tyndall Capital Partners L P boosted its position in shares of Onconova Therapeutics by 91.4% in the second quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock worth $2,154,000 after buying an additional 476,190 shares in the last quarter. Hedge funds and other institutional investors own 15.45% of the company’s stock.

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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