Onconova Therapeutics, Inc. (NASDAQ:ONTX) has been assigned a $6.00 price target by Maxim Group in a report issued on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s target price suggests a potential upside of 214.14% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Laidlaw initiated coverage on shares of Onconova Therapeutics in a research note on Thursday, April 27th. They issued a “buy” rating and a $10.00 price objective for the company. Dawson James restated a “buy” rating on shares of Onconova Therapeutics in a research note on Tuesday, July 25th.

Shares of Onconova Therapeutics (ONTX) traded down 5.76% during mid-day trading on Tuesday, reaching $1.80. The company’s stock had a trading volume of 53,511 shares. Onconova Therapeutics has a one year low of $1.78 and a one year high of $4.12. The stock’s market cap is $17.08 million. The stock has a 50 day moving average of $2.05 and a 200-day moving average of $2.37.

Onconova Therapeutics (NASDAQ:ONTX) last issued its earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.43. The firm had revenue of $0.32 million during the quarter, compared to the consensus estimate of $0.25 million. Onconova Therapeutics had a negative net margin of 485.01% and a negative return on equity of 574.49%. On average, equities research analysts expect that Onconova Therapeutics will post ($3.29) EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Tyndall Capital Partners L P increased its position in Onconova Therapeutics by 91.4% in 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 in the last quarter. Vanguard Group Inc. increased its position in Onconova Therapeutics by 58.4% in 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 in the last quarter. Finally, Renaissance Technologies LLC increased its position in Onconova Therapeutics by 27.2% in the fourth quarter. Renaissance Technologies LLC now owns 122,700 shares of the biopharmaceutical company’s stock valued at $279,000 after buying an additional 26,200 shares in the last quarter. Institutional investors own 15.45% 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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