Onconova Therapeutics Inc (ONTX) Expected to Post Earnings of -$0.72 Per Share

Wall Street brokerages forecast that Onconova Therapeutics Inc (NASDAQ:ONTX) will post earnings of ($0.72) per share for the current quarter, Zacks reports. Two analysts have made estimates for Onconova Therapeutics’ earnings. Onconova Therapeutics reported earnings of ($0.54) per share in the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The firm is scheduled to announce its next quarterly earnings results on Monday, March 26th.

According to Zacks, analysts expect that Onconova Therapeutics will report full-year earnings of ($2.82) per share for the current financial year. For the next year, analysts forecast that the firm will report earnings of ($2.06) per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Onconova Therapeutics.

Onconova Therapeutics (NASDAQ:ONTX) last announced its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.02. The firm had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.29 million.

Several equities research analysts have recently commented on ONTX shares. HC Wainwright started coverage on Onconova Therapeutics in a research note on Monday, October 9th. They set a “buy” rating and a $6.00 price target on the stock. Maxim Group set a $6.00 price target on Onconova Therapeutics and gave the stock a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered Onconova Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, ValuEngine raised Onconova Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Onconova Therapeutics has a consensus rating of “Hold” and a consensus target price of $7.33.

Several institutional investors have recently modified their holdings of ONTX. Vanguard Group Inc. raised its position in shares of Onconova Therapeutics by 58.4% during the 2nd quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock worth $190,000 after purchasing an additional 32,418 shares during the last quarter. Tyndall Capital Partners L P raised its position in shares of Onconova Therapeutics by 91.4% during the 2nd quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock worth $2,154,000 after purchasing an additional 476,190 shares during the last quarter. Sabby Management LLC raised its position in shares of Onconova Therapeutics by 104.0% during the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock worth $1,693,000 after purchasing an additional 399,640 shares during the last quarter. Finally, 683 Capital Management LLC raised its position in shares of Onconova Therapeutics by 21.0% during the 3rd quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock worth $641,000 after purchasing an additional 65,140 shares during the last quarter. Hedge funds and other institutional investors own 25.44% of the company’s stock.

Shares of Onconova Therapeutics (NASDAQ:ONTX) traded down $0.06 during trading hours on Friday, hitting $1.48. The stock had a trading volume of 83,981 shares, compared to its average volume of 132,190. The stock has a market cap of $16.59, a price-to-earnings ratio of -0.49 and a beta of 0.10. Onconova Therapeutics has a fifty-two week low of $1.21 and a fifty-two week high of $3.88.

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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.

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