Onconova Therapeutics, Inc. (ONTX) Coverage Initiated at HC Wainwright
HC Wainwright began coverage on shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $6.00 price target on the biopharmaceutical company’s stock.
Several other equities analysts have also recently issued reports on the company. Dawson James reissued a buy rating on shares of Onconova Therapeutics in a report on Tuesday, July 25th. ValuEngine raised Onconova Therapeutics from a strong sell rating to a sell rating in a report on Friday, September 1st. Finally, Maxim Group set a $6.00 price objective on Onconova Therapeutics and gave the company a buy rating in a report on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $7.33.
Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data on Monday, August 14th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.43. The business had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $0.25 million. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 762.13%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ONTX. Tyndall Capital Partners L P raised its holdings in Onconova Therapeutics by 91.4% in 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 period. Sabby Management LLC raised its holdings in Onconova Therapeutics by 104.0% in 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 period. Finally, Vanguard Group Inc. raised its holdings in Onconova Therapeutics by 58.4% in 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 period. 26.83% of the stock is owned by institutional investors.
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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