Onconova Therapeutics (NASDAQ:ONTX) was downgraded by stock analysts at Maxim Group to a “hold” rating in a report issued on Wednesday.

Other analysts have also recently issued reports about the stock. HC Wainwright set a $6.00 price target on shares of Onconova Therapeutics and gave the stock a “buy” rating in a research report on Thursday, January 4th. Zacks Investment Research raised shares of Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.33.

Shares of Onconova Therapeutics (NASDAQ ONTX) traded down $0.09 during trading on Wednesday, reaching $1.74. 134,900 shares of the company were exchanged, compared to its average volume of 157,590. Onconova Therapeutics has a 12-month low of $1.21 and a 12-month high of $3.88. The stock has a market cap of $24.88, a PE ratio of -0.57 and a beta of 0.10.

Onconova Therapeutics (NASDAQ:ONTX) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.02. Onconova Therapeutics had a negative net margin of 2,855.94% and a negative return on equity of 558.97%. The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.29 million. analysts predict that Onconova Therapeutics will post -2.82 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. 683 Capital Management LLC boosted its position in Onconova Therapeutics by 21.0% during the 3rd quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock worth $641,000 after purchasing an additional 65,140 shares during the period. Sabby Management LLC boosted its position in Onconova Therapeutics by 104.0% in the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after buying an additional 399,640 shares during the last quarter. Tyndall Capital Partners L P boosted its position in Onconova Therapeutics by 91.4% in the 2nd quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock valued at $2,154,000 after buying an additional 476,190 shares during the last quarter. Vanguard Group Inc. boosted its position in Onconova Therapeutics by 58.4% in the 2nd quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after buying an additional 32,418 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Onconova Therapeutics by 27.2% in the 4th quarter. Renaissance Technologies LLC now owns 122,700 shares of the biopharmaceutical company’s stock valued at $279,000 after buying an additional 26,200 shares during the last quarter. 25.44% of the stock is 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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