Onconova Therapeutics’ (ONTX) “Buy” Rating Reiterated at HC Wainwright
Onconova Therapeutics (NASDAQ:ONTX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued on Thursday. They presently have a $6.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 217.46% from the company’s current price.
A number of other equities analysts also recently issued reports on the stock. Maxim Group set a $6.00 price objective on shares of Onconova Therapeutics and gave the company a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research cut shares of Onconova Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $7.33.
Onconova Therapeutics (NASDAQ:ONTX) traded up $0.17 during midday trading on Thursday, hitting $1.89. 834,163 shares of the stock were exchanged, compared to its average volume of 661,233. Onconova Therapeutics has a 1 year low of $1.21 and a 1 year high of $3.88. The company has a market capitalization of $20.36, a P/E ratio of -0.62 and a beta of 0.10.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in 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 acquiring an additional 32,418 shares during the last quarter. 683 Capital Management LLC lifted its position in 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 acquiring an additional 65,140 shares during the last quarter. Sabby Management LLC lifted its position in 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 acquiring an additional 399,640 shares during the last quarter. Finally, Tyndall Capital Partners L P lifted its position in 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 acquiring an additional 476,190 shares during the last quarter. 25.44% of the stock is owned by 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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