Analysts Expect Onconova Therapeutics, Inc. (NASDAQ:ONTX) Will Post Quarterly Sales of $40,000.00

Equities research analysts expect Onconova Therapeutics, Inc. (NASDAQ:ONTX) to post sales of $40,000.00 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Onconova Therapeutics’ earnings. The highest sales estimate is $60,000.00 and the lowest is $30,000.00. Onconova Therapeutics posted sales of $70,000.00 during the same quarter last year, which would indicate a negative year-over-year growth rate of 42.9%. The firm is scheduled to announce its next earnings report on Thursday, November 11th.

On average, analysts expect that Onconova Therapeutics will report full year sales of $220,000.00 for the current year, with estimates ranging from $130,000.00 to $300,000.00. For the next financial year, analysts anticipate that the business will report sales of $210,000.00, with estimates ranging from $120,000.00 to $300,000.00. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Onconova Therapeutics.

Onconova Therapeutics (NASDAQ:ONTX) last posted its quarterly earnings results on Thursday, August 12th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Onconova Therapeutics had a negative return on equity of 97.66% and a negative net margin of 9,159.32%.

ONTX has been the subject of several analyst reports. Noble Financial reissued a “buy” rating and issued a $11.00 price objective on shares of Onconova Therapeutics in a research note on Thursday. Zacks Investment Research raised Onconova Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Friday.

Shares of Onconova Therapeutics stock traded down $1.09 on Friday, hitting $4.02. The company had a trading volume of 257,324 shares, compared to its average volume of 2,212,145. The stock has a market capitalization of $63.44 million, a price-to-earnings ratio of -2.98 and a beta of 1.74. Onconova Therapeutics has a 1 year low of $3.60 and a 1 year high of $28.95. The stock has a 50 day moving average of $5.10 and a 200-day moving average of $8.30.

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in shares of Onconova Therapeutics in the second quarter worth $169,000. State Street Corp raised its position in Onconova Therapeutics by 23.9% during the second quarter. State Street Corp now owns 115,090 shares of the biopharmaceutical company’s stock valued at $798,000 after purchasing an additional 22,190 shares in the last quarter. Jump Financial LLC purchased a new stake in Onconova Therapeutics during the second quarter valued at about $128,000. Dimensional Fund Advisors LP purchased a new stake in Onconova Therapeutics during the second quarter valued at about $509,000. Finally, Deutsche Bank AG purchased a new stake in Onconova Therapeutics during the second quarter valued at about $113,000. 15.45% of the stock is owned by hedge funds and other institutional investors.

About Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the identification and development of oncology therapeutics. It focuses on discovering and developing small molecule drug candidates to treat cancer. The company was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 and is headquartered in Newtown, PA.

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