Onconova Therapeutics Inc (ONTX) Given Average Rating of “Hold” by Analysts

Onconova Therapeutics Inc (NASDAQ:ONTX) has earned a consensus rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.00.

ONTX has been the topic of several analyst reports. Maxim Group set a $6.00 target price on Onconova Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 15th. HC Wainwright initiated coverage on Onconova Therapeutics in a report on Monday, October 9th. They issued a “buy” rating and a $6.00 target price on the stock. ValuEngine raised Onconova Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Zacks Investment Research downgraded Onconova Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday.

Shares of Onconova Therapeutics (ONTX) opened at $1.37 on Tuesday. Onconova Therapeutics has a 1-year low of $1.36 and a 1-year high of $3.88.

Onconova Therapeutics (NASDAQ:ONTX) last released its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.02. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 2,855.94%. The business had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.29 million. sell-side analysts anticipate that Onconova Therapeutics will post -2.82 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the company. 683 Capital Management LLC lifted its holdings in shares of Onconova Therapeutics by 21.0% during the third quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock valued at $641,000 after purchasing an additional 65,140 shares in the last quarter. Sabby Management LLC lifted its holdings in shares of Onconova Therapeutics by 104.0% during the second quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after purchasing an additional 399,640 shares in the last quarter. Tyndall Capital Partners L P lifted its holdings in shares of Onconova Therapeutics by 91.4% during the second quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock valued at $2,154,000 after purchasing an additional 476,190 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Onconova Therapeutics by 58.4% during the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 32,418 shares in the last quarter. 25.44% of the stock is currently owned by hedge funds and other institutional investors.

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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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