Onconova Therapeutics’ (ONTX) “Buy” Rating Reaffirmed at Maxim Group

Maxim Group reissued their buy rating on shares of Onconova Therapeutics Inc. (NASDAQ:ONTX) in a research report released on Monday.

Shares of Onconova Therapeutics (NASDAQ:ONTX) opened at 3.02 on Monday. The company’s 50 day moving average price is $3.24 and its 200 day moving average price is $4.48. Onconova Therapeutics has a 12-month low of $2.62 and a 12-month high of $18.90. The firm’s market cap is $19.15 million.

Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data on Monday, August 15th. The biopharmaceutical company reported ($1.96) EPS for the quarter. Onconova Therapeutics had a negative return on equity of 256.32% and a negative net margin of 102.42%. The company earned $2.25 million during the quarter. Equities research analysts forecast that Onconova Therapeutics will post ($2.15) EPS for the current year.

An institutional investor recently raised its position in Onconova Therapeutics stock. Renaissance Technologies LLC raised its position in shares of Onconova Therapeutics Inc. (NASDAQ:ONTX) by 86.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 280,704 shares of the biopharmaceutical company’s stock after buying an additional 130,404 shares during the period. Renaissance Technologies LLC owned 1.13% of Onconova Therapeutics worth $163,000 at the end of the most recent reporting period. Institutional investors own 2.36% of the company’s stock.

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.

5 Day Chart for NASDAQ:ONTX

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