Onconova Therapeutics (NASDAQ:ONTX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Onconova Therapeutics (NASDAQ:ONTX – Get Rating) in a research note published on Tuesday. The firm issued a hold rating on the biopharmaceutical company’s stock.

ONTX has been the topic of several other research reports. Zacks Investment Research upgraded Onconova Therapeutics from a hold rating to a buy rating and set a $2.00 target price on the stock in a research note on Wednesday, March 23rd. LADENBURG THALM/SH SH initiated coverage on Onconova Therapeutics in a research note on Tuesday, March 1st. They set a buy rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $8.00.

NASDAQ:ONTX opened at $1.08 on Tuesday. Onconova Therapeutics has a fifty-two week low of $1.00 and a fifty-two week high of $16.50. The stock has a market capitalization of $22.57 million, a PE ratio of -1.29 and a beta of 1.80. The business’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $2.19.

Onconova Therapeutics (NASDAQ:ONTX – Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Onconova Therapeutics had a negative net margin of 7,151.77% and a negative return on equity of 38.96%. During the same period in the prior year, the firm posted ($0.30) EPS. Equities analysts anticipate that Onconova Therapeutics will post -0.76 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in shares of Onconova Therapeutics by 140.8% during the 1st quarter. Renaissance Technologies LLC now owns 321,743 shares of the biopharmaceutical company’s stock worth $592,000 after acquiring an additional 188,116 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Onconova Therapeutics in the 3rd quarter valued at $922,000. Geode Capital Management LLC grew its holdings in Onconova Therapeutics by 24.1% in the 3rd quarter. Geode Capital Management LLC now owns 177,430 shares of the biopharmaceutical company’s stock valued at $679,000 after buying an additional 34,450 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Onconova Therapeutics in the 3rd quarter valued at $635,000. Finally, Pura Vida Investments LLC acquired a new position in Onconova Therapeutics in the 3rd quarter valued at $575,000. 11.53% of the stock is currently owned by institutional investors and hedge funds.

Onconova Therapeutics Company Profile (Get Rating)

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer. It has two clinical-stage programs, including narazaciclib (ON 123300), a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with PD-1 inhibitor, which is in Phase I/IIa for the treatment of progressive K-Ras mutated non-small cell lung cancer.

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