Onconova Therapeutics (NASDAQ:ONTX) Now Covered by StockNews.com

Posted by on Aug 6th, 2023

Equities research analysts at StockNews.com assumed coverage on shares of Onconova Therapeutics (NASDAQ:ONTX – Get Free Report) in a research note issued on Friday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright upgraded shares of Onconova Therapeutics from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Friday, April 21st.

Onconova Therapeutics Trading Down 2.0 %

Shares of ONTX opened at $0.99 on Friday. The firm’s 50-day moving average is $1.11 and its two-hundred day moving average is $1.00. Onconova Therapeutics has a twelve month low of $0.62 and a twelve month high of $1.52. The firm has a market capitalization of $20.77 million, a P/E ratio of -1.00 and a beta of 1.72.

Onconova Therapeutics (NASDAQ:ONTX – Get Free Report) last issued its earnings results on Monday, May 15th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Onconova Therapeutics had a negative return on equity of 67.03% and a negative net margin of 9,122.57%. The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.06 million. Analysts predict that Onconova Therapeutics will post -1.21 EPS for the current year.

Institutional Trading of Onconova Therapeutics

Large investors have recently modified their holdings of the business. Millennium Management LLC lifted its stake in shares of Onconova Therapeutics by 154.6% during the second quarter. Millennium Management LLC now owns 61,390 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 37,275 shares during the period. Beacon Pointe Advisors LLC lifted its stake in shares of Onconova Therapeutics by 147.0% during the first quarter. Beacon Pointe Advisors LLC now owns 46,027 shares of the biopharmaceutical company’s stock valued at $85,000 after buying an additional 27,396 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Onconova Therapeutics by 3.6% during the second quarter. Renaissance Technologies LLC now owns 333,323 shares of the biopharmaceutical company’s stock valued at $440,000 after buying an additional 11,580 shares during the period. Finally, Vanguard Group Inc. raised its stake in Onconova Therapeutics by 21.7% during the third quarter. Vanguard Group Inc. now owns 622,958 shares of the biopharmaceutical company’s stock worth $549,000 after purchasing an additional 110,965 shares during the period. 6.80% of the stock is currently owned by institutional investors and hedge funds.

Onconova Therapeutics Company Profile

(Get Free Report)

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer in the United States. It has two clinical-stage programs, including narazaciclib, 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 study for the treatment of progressive K-Ras mutated non-small cell lung cancer.

Further Reading

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 MarketBeat.com's FREE daily email newsletter.