Onconova Therapeutics (ONTX) Given a $16.00 Price Target at Maxim Group

Maxim Group set a $16.00 price target on Onconova Therapeutics (NASDAQ:ONTX) in a research report sent to investors on Monday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on ONTX. HC Wainwright set a $25.00 price objective on shares of Onconova Therapeutics and gave the stock a buy rating in a research note on Wednesday, November 14th. ValuEngine raised shares of Onconova Therapeutics from a hold rating to a buy rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research raised shares of Onconova Therapeutics from a hold rating to a buy rating and set a $7.50 price objective for the company in a research note on Saturday, August 18th.

Shares of Onconova Therapeutics stock opened at $3.68 on Monday. Onconova Therapeutics has a 12-month low of $3.27 and a 12-month high of $39.97. The stock has a market capitalization of $22.30 million, a price-to-earnings ratio of -0.09 and a beta of 1.12.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data on Tuesday, November 13th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.78) by ($0.16). Onconova Therapeutics had a negative return on equity of 965.58% and a negative net margin of 1,610.44%. The business had revenue of $0.12 million for the quarter, compared to analysts’ expectations of $1.87 million. As a group, equities research analysts anticipate that Onconova Therapeutics will post -5.06 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in shares of Onconova Therapeutics by 456.1% during the 2nd quarter. Renaissance Technologies LLC now owns 819,712 shares of the biopharmaceutical company’s stock worth $332,000 after purchasing an additional 672,312 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Onconova Therapeutics during the 2nd quarter worth approximately $1,456,000. Finally, 683 Capital Management LLC increased its stake in shares of Onconova Therapeutics by 444.2% during the 2nd quarter. 683 Capital Management LLC now owns 14,503,169 shares of the biopharmaceutical company’s stock worth $5,867,000 after purchasing an additional 11,838,235 shares in the last quarter. 57.65% of the stock is owned by institutional investors and hedge funds.

About Onconova Therapeutics

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing small molecule product candidates to treat cancer. Its product candidates include Rigosertib IV, which is in Phase III clinical trial for patients with higher risk myelodysplastic syndromes (MDS); Rigosertib oral in combination with azacitidine that is in Phase II clinical trial for patients with higher-risk MDS; and Rigosertib oral, which is in Phase II clinical trial for patients with lower risk MDS.

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