Zacks Investment Research cut shares of Onconova Therapeutics (NASDAQ:ONTX) from a hold rating to a sell rating in a research note released on Tuesday morning.

According to Zacks, “Onconova Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company. It focuses on discovering and developing small molecule drug candidates to treat cancer. The Company’s products under different phases of development include Rigosertib intravenous (IV), Rigosertib Oral, Rigosertib IV, ON 013105 and Recilisib. Onconova Therapeutics, Inc. is headquartered in Newtown, Pennsylvania. “

Several other equities analysts have also recently issued reports on ONTX. Maxim Group set a $6.00 price objective on Onconova Therapeutics and gave the stock a buy rating in a report on Tuesday, August 15th. ValuEngine raised Onconova Therapeutics from a strong sell rating to a sell rating in a report on Friday, September 1st. Finally, HC Wainwright initiated coverage on Onconova Therapeutics in a report on Monday, October 9th. They set a buy rating and a $6.00 price objective for the company. 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 currently has an average rating of Hold and a consensus target price of $7.33.

Shares of Onconova Therapeutics (ONTX) opened at $1.40 on Tuesday. Onconova Therapeutics has a 1-year low of $1.32 and a 1-year high of $3.88.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.02. The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.29 million. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 2,855.94%. research analysts expect that Onconova Therapeutics will post -2.82 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased 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 buying an additional 32,418 shares in the last quarter. 683 Capital Management LLC increased 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 buying an additional 65,140 shares in the last quarter. Sabby Management LLC increased 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 buying an additional 399,640 shares in the last quarter. Finally, Tyndall Capital Partners L P increased 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 buying an additional 476,190 shares in the last quarter. 25.44% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: “Onconova Therapeutics (ONTX) Downgraded to Sell at Zacks Investment Research” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://www.watchlistnews.com/onconova-therapeutics-ontx-downgraded-to-sell-at-zacks-investment-research/1760834.html.

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.

Receive News & Ratings for Onconova Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onconova Therapeutics and related companies with Analyst Ratings Network's FREE daily email newsletter.