Maxim Group reaffirmed their buy rating on shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) in a research note issued to investors on Thursday morning. Maxim Group currently has a $6.00 target price on the biopharmaceutical company’s stock.

Several other research analysts have also issued reports on the stock. HC Wainwright initiated coverage on shares of Onconova Therapeutics in a research note on Monday, October 9th. They issued a buy rating and a $6.00 price target for the company. Dawson James reiterated a buy rating on shares of Onconova Therapeutics in a research note on Tuesday, July 25th. Finally, ValuEngine upgraded shares of Onconova Therapeutics from a strong sell rating to a sell rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Onconova Therapeutics presently has an average rating of Buy and a consensus price target of $7.33.

Onconova Therapeutics (NASDAQ:ONTX) remained flat at $$1.95 during trading hours on Thursday. The stock had a trading volume of 17,446 shares, compared to its average volume of 399,183. Onconova Therapeutics has a 52 week low of $1.46 and a 52 week high of $3.88.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.43. The company had revenue of $0.32 million during the quarter, compared to analyst estimates of $0.25 million. Onconova Therapeutics had a negative net margin of 762.13% and a negative return on equity of 558.97%. analysts predict that Onconova Therapeutics will post -3.03 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in ONTX. Vanguard Group Inc. increased its stake in Onconova Therapeutics by 58.4% during the 2nd quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 32,418 shares in the last quarter. Tyndall Capital Partners L P increased its stake in Onconova Therapeutics by 91.4% during the 2nd quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock valued at $2,154,000 after purchasing an additional 476,190 shares in the last quarter. Finally, Sabby Management LLC increased its stake in Onconova Therapeutics by 104.0% during the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after purchasing an additional 399,640 shares in the last quarter. Institutional investors and hedge funds own 26.81% 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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