Onconova Therapeutics (ONTX) Upgraded at ValuEngine

ValuEngine upgraded shares of Onconova Therapeutics (NASDAQ:ONTX) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

ONTX has been the topic of several other reports. HC Wainwright set a $6.00 target price on shares of Onconova Therapeutics and gave the stock a buy rating in a research note on Thursday, January 4th. Zacks Investment Research lowered shares of Onconova Therapeutics from a hold rating to a sell rating in a research note on Tuesday, December 12th. Finally, Maxim Group reaffirmed a hold rating on shares of Onconova Therapeutics in a research note on Friday, March 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Onconova Therapeutics presently has an average rating of Buy and an average target price of $8.00.

Shares of Onconova Therapeutics (ONTX) opened at $0.99 on Wednesday. Onconova Therapeutics has a 12 month low of $0.95 and a 12 month high of $3.88.

Onconova Therapeutics (NASDAQ:ONTX) last posted its earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.10. Onconova Therapeutics had a negative net margin of 3,061.37% and a negative return on equity of 558.97%. The business had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.31 million. analysts predict that Onconova Therapeutics will post -1.41 earnings per share for the current year.

In related news, major shareholder 683 Capital Management, Llc purchased 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average cost of $1.04 per share, with a total value of $208,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 13.30% of the company’s stock.

A hedge fund recently raised its stake in Onconova Therapeutics stock. Vanguard Group Inc. boosted its stake in Onconova Therapeutics Inc (NASDAQ:ONTX) by 58.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,940 shares of the biopharmaceutical company’s stock after buying an additional 32,418 shares during the quarter. Vanguard Group Inc. owned approximately 0.93% of Onconova Therapeutics worth $190,000 at the end of the most recent reporting period. 12.72% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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