HC Wainwright Reiterates $6.00 Price Target for Onconova Therapeutics (ONTX)
HC Wainwright set a $6.00 price objective on Onconova Therapeutics (NASDAQ:ONTX) in a research report released on Tuesday. The firm currently has a buy rating on the biopharmaceutical company’s stock.
A number of other research firms also recently issued reports on ONTX. Maxim Group restated a buy rating and set a $6.00 price objective on shares of Onconova Therapeutics in a report on Thursday, November 2nd. ValuEngine upgraded shares of Onconova Therapeutics from a strong sell rating to a sell rating in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Onconova Therapeutics from a hold rating to a sell rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Onconova Therapeutics has a consensus rating of Hold and a consensus price target of $7.33.
Onconova Therapeutics (NASDAQ ONTX) traded up $0.03 during midday trading on Tuesday, reaching $1.39. 66,400 shares of the company were exchanged, compared to its average volume of 130,424. Onconova Therapeutics has a 1-year low of $1.32 and a 1-year high of $3.88.
Onconova Therapeutics (NASDAQ:ONTX) last posted its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) 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 business had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.29 million. analysts forecast that Onconova Therapeutics will post -2.82 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of ONTX. Tyndall Capital Partners L P boosted 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 worth $2,154,000 after purchasing an additional 476,190 shares during the period. Sabby Management LLC boosted 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 worth $1,693,000 after purchasing an additional 399,640 shares during the period. 683 Capital Management LLC boosted 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 worth $641,000 after purchasing an additional 65,140 shares during the period. Finally, Vanguard Group Inc. boosted 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 worth $190,000 after purchasing an additional 32,418 shares during the period. Hedge funds and other institutional investors own 25.44% of the company’s stock.
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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