HC Wainwright set a $6.00 target price on Onconova Therapeutics (NASDAQ:ONTX) in a research note released on Thursday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.
“Rigosertib Expanding Footprint; Moving Forward With CRADA to Address RASopathies Moving forward on RASopathies with NCI. Onconova announced today that it has entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) for the development of rigosertib in pediatric cancer associated RASopathies. The NCI is to conduct and fund the majority of research, including preclinical laboratory studies and a clinical trial, whereas Onconova is expected to provide rigosertib and initial funding for non-clinical studies. The studies are slated to start in 2018. The NCI is to focus on RASopathy related cancers in pediatric patients, whereas Onconova is expecting to focus on Juvenile Myelomonocytic Leukemia (JMML). This event signifies the potential expansion of rigosertib use in a number of cancers and syndromes driven by RAS pathway hyperactivation.”,” HC Wainwright’s analyst commented.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Onconova Therapeutics from a hold rating to a sell rating in a report on Tuesday, December 12th. Maxim Group set a $6.00 target price on shares of Onconova Therapeutics and gave the stock a buy rating in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $7.33.
Onconova Therapeutics (NASDAQ:ONTX) last posted its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.73) by $0.02. Onconova Therapeutics had a negative net margin of 2,855.94% and a negative return on equity of 558.97%. The firm had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.29 million. equities research analysts expect that Onconova Therapeutics will post -2.82 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Onconova Therapeutics by 58.4% in the second 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. 683 Capital Management LLC boosted its holdings in Onconova Therapeutics by 21.0% in the third 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. Sabby Management LLC boosted its holdings in Onconova Therapeutics by 104.0% in the second 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, Tyndall Capital Partners L P boosted its holdings in Onconova Therapeutics by 91.4% in the second 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. Institutional investors own 25.44% of the company’s stock.
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Onconova Therapeutics Company Profile
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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