Onconova Therapeutics (ONTX) Given a $25.00 Price Target by HC Wainwright Analysts

Onconova Therapeutics (NASDAQ:ONTX) received a $25.00 target price from research analysts at HC Wainwright in a research report issued on Monday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently weighed in on ONTX. Maxim Group restated a “buy” rating and set a $45.00 price objective on shares of Onconova Therapeutics in a research note on Tuesday, August 14th. ValuEngine raised Onconova Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research raised Onconova Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Saturday, August 18th.

Shares of NASDAQ:ONTX opened at $3.97 on Monday. Onconova Therapeutics has a 1-year low of $3.27 and a 1-year high of $39.97. The firm has a market cap of $24.63 million, a price-to-earnings ratio of -0.10 and a beta of 1.13.

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 consensus estimate of ($0.78) by ($0.16). Onconova Therapeutics had a negative net margin of 1,610.44% and a negative return on equity of 965.58%. The company had revenue of $0.12 million for the quarter, compared to the consensus estimate of $1.87 million. On average, equities research analysts anticipate that Onconova Therapeutics will post -5.06 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position 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 valued at $332,000 after purchasing an additional 672,312 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Onconova Therapeutics during the 2nd quarter valued at $1,456,000. Finally, 683 Capital Management LLC increased its position 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 valued at $5,867,000 after purchasing an additional 11,838,235 shares during the last quarter. 57.65% of the stock is owned by hedge funds and other institutional investors.

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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