HC Wainwright Analysts Give Onconova Therapeutics (ONTX) a $6.00 Price Target
HC Wainwright set a $6.00 price objective on Onconova Therapeutics (NASDAQ:ONTX) in a research note released on Thursday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
“Rigosertib Expanding Footprint; Moving Forward With CRADA to Address RASopathies Moving forward on RASopathies with NCI. Onconova announced today that it has entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) for the development of rigosertib in pediatric cancer associated RASopathies. The NCI is to conduct and fund the majority of research, including preclinical laboratory studies and a clinical trial, whereas Onconova is expected to provide rigosertib and initial funding for non-clinical studies. The studies are slated to start in 2018. The NCI is to focus on RASopathy related cancers in pediatric patients, whereas Onconova is expecting to focus on Juvenile Myelomonocytic Leukemia (JMML). This event signifies the potential expansion of rigosertib use in a number of cancers and syndromes driven by RAS pathway hyperactivation.”,” the firm’s analyst commented.
ONTX has been the topic of several other research reports. Maxim Group reiterated a buy rating and set a $6.00 price objective on shares of Onconova Therapeutics in a research report on Thursday, November 2nd. Zacks Investment Research cut shares of Onconova Therapeutics from a hold rating to a sell rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $7.33.
Shares of Onconova Therapeutics (NASDAQ ONTX) traded down $0.01 during trading hours on Thursday, reaching $1.68. 159,329 shares of the company’s stock traded hands, compared to its average volume of 180,800. Onconova Therapeutics has a twelve month low of $1.21 and a twelve month high of $3.88. The stock has a market capitalization of $18.20, a P/E ratio of -0.61 and a beta of 0.10.
Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.02. The firm had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.29 million. Onconova Therapeutics had a negative net margin of 2,855.94% and a negative return on equity of 558.97%. analysts anticipate that Onconova Therapeutics will post -2.82 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 buying an additional 32,418 shares during the last quarter. 683 Capital Management LLC raised its position 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 buying an additional 65,140 shares during the last quarter. Sabby Management LLC raised its position 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 buying an additional 399,640 shares during the last quarter. Finally, Tyndall Capital Partners L P raised its position 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 buying an additional 476,190 shares during the last quarter. Hedge funds and other institutional investors own 25.44% of the company’s stock.
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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