Onconova Therapeutics (ONTX) Announces Earnings Results

Onconova Therapeutics (NASDAQ:ONTX) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.11) by ($0.18), MarketWatch Earnings reports. Onconova Therapeutics had a negative return on equity of 336.39% and a negative net margin of 1,675.33%. The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.08 million.

Shares of ONTX stock traded down $0.23 during mid-day trading on Wednesday, reaching $3.93. The stock had a trading volume of 6,839 shares, compared to its average volume of 43,217. Onconova Therapeutics has a 52-week low of $1.69 and a 52-week high of $11.17. The stock has a market capitalization of $25.35 million, a price-to-earnings ratio of -0.79 and a beta of 2.95.

ONTX has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine downgraded shares of Onconova Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Onconova Therapeutics in a research report on Friday, February 8th. Finally, Maxim Group restated a “buy” rating and issued a $16.00 price objective on shares of Onconova Therapeutics in a research report on Monday, March 25th.

An institutional investor recently bought a new position in Onconova Therapeutics stock. Dimensional Fund Advisors LP acquired a new stake in Onconova Therapeutics Inc (NASDAQ:ONTX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,086 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Dimensional Fund Advisors LP owned 0.23% of Onconova Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 48.05% of the company’s stock.

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Onconova Therapeutics Company Profile

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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Earnings History for Onconova Therapeutics (NASDAQ:ONTX)

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