Onconova Therapeutics (NASDAQ:ONTX) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Onconova Therapeutics (NASDAQ:ONTX – Get Rating) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued reports about the company. LADENBURG THALM/SH SH began coverage on Onconova Therapeutics in a research report on Tuesday, March 1st. They issued a buy rating and a $7.00 price target for the company. Zacks Investment Research raised Onconova Therapeutics from a hold rating to a buy rating and set a $2.00 price target for the company in a research report on Wednesday, March 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $8.00.

Shares of NASDAQ:ONTX opened at $1.51 on Friday. Onconova Therapeutics has a twelve month low of $1.38 and a twelve month high of $16.50. The stock’s 50 day moving average is $1.70 and its 200-day moving average is $2.46. The firm has a market capitalization of $31.55 million, a price-to-earnings ratio of -1.59 and a beta of 1.78.

Onconova Therapeutics (NASDAQ:ONTX – Get Rating) last issued its earnings results on Thursday, March 17th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter. Onconova Therapeutics had a negative return on equity of 38.96% and a negative net margin of 7,151.77%. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.08 million. During the same period in the previous year, the company earned ($0.45) earnings per share. As a group, research analysts anticipate that Onconova Therapeutics will post -0.76 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Onconova Therapeutics in the 4th quarter valued at $31,000. Millennium Management LLC bought a new position in Onconova Therapeutics in the 4th quarter valued at $35,000. Renaissance Technologies LLC bought a new position in Onconova Therapeutics in the 4th quarter valued at $341,000. Hudson Bay Capital Management LP bought a new position in Onconova Therapeutics in the 3rd quarter valued at $635,000. Finally, CVI Holdings LLC bought a new position in Onconova Therapeutics in the 3rd quarter valued at $493,000. Hedge funds and other institutional investors own 18.88% of the company’s stock.

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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