Onconova Therapeutics (NASDAQ:ONTX) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Onconova Therapeutics (NASDAQ:ONTX) from a hold rating to a buy rating in a research note published on Saturday, ValuEngine reports.

Several other research analysts have also recently weighed in on the stock. Noble Financial began coverage on shares of Onconova Therapeutics in a report on Thursday, July 25th. They set an outperform rating and a $12.00 price objective for the company. Zacks Investment Research lowered shares of H&E Equipment Services from a hold rating to a sell rating in a research report on Wednesday, July 17th. Maxim Group restated a buy rating and set a $16.00 target price on shares of Onconova Therapeutics in a research report on Tuesday, May 14th. Finally, HC Wainwright set a $25.00 target price on shares of Onconova Therapeutics and gave the company a buy rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $15.13.

ONTX opened at $2.64 on Friday. The firm’s 50 day moving average is $2.92. Onconova Therapeutics has a twelve month low of $1.69 and a twelve month high of $11.17. The stock has a market capitalization of $15.84 million, a PE ratio of -0.53 and a beta of 2.70.

Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings data on Tuesday, May 14th. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.18). Onconova Therapeutics had a negative net margin of 3,153.42% and a negative return on equity of 310.58%. The company had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.08 million. As a group, analysts predict that Onconova Therapeutics will post -3.78 EPS for the current year.

In related news, major shareholder Tyndall Capital Partners L. P sold 10,927 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $2.83, for a total transaction of $30,923.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 13,765 shares of company stock valued at $40,646 over the last 90 days. 9.70% of the stock is currently owned by company insiders.

An institutional investor recently bought a new position in Onconova Therapeutics stock. Dimensional Fund Advisors LP bought a new stake in shares of Onconova Therapeutics Inc (NASDAQ:ONTX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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. 38.62% of the stock is currently owned by institutional investors.

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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