Onconova Therapeutics (NASDAQ:ONTX) Given a $8.00 Price Target by Maxim Group Analysts

Onconova Therapeutics (NASDAQ:ONTX) has been given a $8.00 price target by research analysts at Maxim Group in a research note issued to investors on Monday, TipRanks reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price objective points to a potential upside of 250.88% from the company’s current price.

A number of other research firms have also commented on ONTX. HC Wainwright set a $25.00 price target on Onconova Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Noble Financial initiated coverage on Onconova Therapeutics in a research report on Thursday, July 25th. They set an “outperform” rating and a $12.00 price target on the stock. ValuEngine lowered Onconova Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research upgraded Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Onconova Therapeutics has a consensus rating of “Buy” and an average target price of $13.13.

NASDAQ ONTX traded down $0.05 during trading hours on Monday, reaching $2.28. 27,018 shares of the company’s stock were exchanged, compared to its average volume of 79,189. The company has a market cap of $13.98 million, a PE ratio of -0.46 and a beta of 2.70. Onconova Therapeutics has a one year low of $1.69 and a one year high of $11.17. The business’s fifty day simple moving average is $2.62.

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

In other Onconova Therapeutics news, major shareholder Tyndall Capital Partners L. P sold 10,927 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $2.83, for a total value of $30,923.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 13,765 shares of company stock worth $40,646 over the last quarter. Corporate insiders own 9.70% of the company’s stock.

A hedge fund recently raised its stake in Onconova Therapeutics stock. Vanguard Group Inc. raised its position in Onconova Therapeutics Inc (NASDAQ:ONTX) by 61.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 66,168 shares of the biopharmaceutical company’s stock after buying an additional 25,305 shares during the period. Vanguard Group Inc. owned about 1.10% of Onconova Therapeutics worth $189,000 as of its most recent filing with the SEC. 38.62% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Equity Income

Receive News & Ratings for Onconova Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onconova Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.