Onconova Therapeutics, Inc. (ONTX) Releases Earnings Results, Beats Estimates By $0.43 EPS
Onconova Therapeutics, Inc. (NASDAQ:ONTX) released its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.43, Bloomberg Earnings reports. The business had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $0.25 million. Onconova Therapeutics had a negative return on equity of 574.49% and a negative net margin of 485.01%.
Onconova Therapeutics (NASDAQ:ONTX) traded down 4.19% during trading on Tuesday, hitting $1.83. The stock had a trading volume of 36,142 shares. The stock’s 50-day moving average is $2.05 and its 200 day moving average is $2.37. Onconova Therapeutics has a one year low of $1.78 and a one year high of $4.12. The firm’s market cap is $17.36 million.
A number of equities analysts have recently weighed in on the company. Maxim Group set a $6.00 price target on Onconova Therapeutics and gave the stock a “buy” rating in a report on Monday, May 15th. Laidlaw assumed coverage on Onconova Therapeutics in a report on Thursday, April 27th. They set a “buy” rating and a $10.00 price target for the company. Finally, Dawson James reiterated a “buy” rating on shares of Onconova Therapeutics in a report on Tuesday, July 25th.
A hedge fund recently raised its stake in Onconova Therapeutics stock. Vanguard Group Inc. raised its position in shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) by 58.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,940 shares of the biopharmaceutical company’s stock after buying an additional 32,418 shares during the period. Vanguard Group Inc. owned about 0.93% of Onconova Therapeutics worth $190,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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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