Shares of Onconova Therapeutics Inc (NASDAQ:ONTX) have earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $8.00.
A number of research analysts have weighed in on the company. Zacks Investment Research raised Onconova Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Onconova Therapeutics in a research report on Thursday, January 18th. Finally, Maxim Group lowered Onconova Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th.
Onconova Therapeutics (NASDAQ:ONTX) opened at $1.43 on Wednesday. Onconova Therapeutics has a 52 week low of $1.21 and a 52 week high of $3.88. The firm has a market capitalization of $15.35, a price-to-earnings ratio of -0.47 and a beta of 0.10.
Several institutional investors and hedge funds have recently modified their holdings of ONTX. Vanguard Group Inc. raised its position in shares of Onconova Therapeutics by 58.4% in the 2nd 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 during the period. Tyndall Capital Partners L P raised its position in shares of 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 worth $2,154,000 after buying an additional 476,190 shares during the period. Sabby Management LLC raised its position in shares of Onconova Therapeutics by 104.0% in the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock worth $1,693,000 after buying an additional 399,640 shares during the period. Finally, 683 Capital Management LLC raised its position in shares of Onconova Therapeutics by 21.0% in the 3rd quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 65,140 shares during the period. 25.45% of the stock is currently owned by institutional investors and hedge funds.
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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