Onconova Therapeutics, Inc. (ONTX) Rating Reiterated by HC Wainwright

Onconova Therapeutics, Inc. (NASDAQ:ONTX)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued on Thursday.

The analysts wrote, “Positives from the quarter: 1) IPXL launched additional strengths of generic Focalin XR extended-release capsules CII, 25 and 35mg, 2) The company announced the approval and AB rating for generic Concerta ER tablets USP CII, 18, 27, 36, and 54mg, 3) Settled contract litigation on Opana ER CII extended- release tablets, 4) Announced business combination with Amneal, still targeting a 1H18 close, will invest in Specialty Pharma and adjacent businesses, will focus on CNS and expand beyond that into other areas as well, 5) Good progress on operational and cost improvement plans, 6) Positive results from Phase 2b Study of IPX203, with meaningful efficacy benefit over Rytary, 7) In late- stage negotiations for the sale of its Taiwan manufacturing facility. If IPXL is successful in selling its Taiwan facility by the end of 1Q18, IPXL could realize the anticipated cost savings by the end of 2018, ~1 year ahead of schedule., 8) IPXL says it is thinking about creating its own captive distribution system because of the leverage buying consortiums have on customers, And, 9) The possible entry of online vendors, such as Amazon, into generics, improves access to generic drugs, but may not improve pricing. Volumes will likely start slow and grow over time.””

ONTX has been the topic of several other research reports. Maxim Group set a $6.00 price target on Onconova Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 15th. ValuEngine upgraded Onconova Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Dawson James restated a “buy” rating on shares of Onconova Therapeutics in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Onconova Therapeutics presently has an average rating of “Buy” and a consensus target price of $7.33.

Shares of Onconova Therapeutics (NASDAQ:ONTX) traded down $0.32 during trading hours on Thursday, reaching $1.54. The company’s stock had a trading volume of 515,600 shares, compared to its average volume of 132,573. Onconova Therapeutics has a 1-year low of $1.46 and a 1-year high of $3.88.

Onconova Therapeutics (NASDAQ:ONTX) last announced its quarterly earnings results 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 business had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.29 million. Onconova Therapeutics had a negative return on equity of 2,456.10% and a negative net margin of 2,855.94%. equities analysts expect that Onconova Therapeutics will post -3.03 EPS for the current year.

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Several hedge funds have recently bought and sold shares of ONTX. Vanguard Group Inc. lifted its holdings in shares of Onconova Therapeutics by 58.4% in the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 32,418 shares in the last quarter. Sabby Management LLC lifted its holdings in shares of Onconova Therapeutics by 104.0% in the second quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after purchasing an additional 399,640 shares in the last quarter. Finally, Tyndall Capital Partners L P lifted its holdings in shares of Onconova Therapeutics by 91.4% in the second quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock valued at $2,154,000 after purchasing an additional 476,190 shares in the last quarter. Institutional investors own 26.81% of the company’s stock.

Onconova Therapeutics Company Profile

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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