Onconova Therapeutics, Inc. (ONTX) Given $5.50 Consensus Target Price by Brokerages

Shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price target of $5.50 for the company, according to Zacks. Zacks has also given Onconova Therapeutics an industry rank of 161 out of 265 based on the ratings given to its competitors.

ONTX has been the topic of a number of recent analyst reports. Maxim Group set a $6.00 target price on shares of Onconova Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Laidlaw initiated coverage on shares of Onconova Therapeutics in a research note on Thursday, April 27th. They set a “buy” rating and a $10.00 target price on the stock.

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In related news, insider Ramesh Kumar acquired 23,810 shares of Onconova Therapeutics stock in a transaction dated Wednesday, April 26th. The shares were purchased at an average price of $2.10 per share, for a total transaction of $50,001.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director E Premkumar Reddy acquired 119,048 shares of Onconova Therapeutics stock in a transaction dated Wednesday, April 26th. The shares were bought at an average price of $2.10 per share, for a total transaction of $250,000.80. Following the transaction, the director now owns 385,832 shares of the company’s stock, valued at $810,247.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 144,287 shares of company stock worth $303,003. 27.30% of the stock is owned by company insiders.

An institutional investor recently raised its position in Onconova Therapeutics stock. Vanguard Group Inc. increased its stake in shares of Onconova Therapeutics, Inc. (NASDAQ:ONTX) by 22.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 55,522 shares of the biopharmaceutical company’s stock after buying an additional 10,350 shares during the period. Vanguard Group Inc. owned 0.82% of Onconova Therapeutics worth $169,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 15.44% of the company’s stock.

Shares of Onconova Therapeutics (NASDAQ ONTX) traded up 2.08% during trading on Monday, reaching $1.96. 45,070 shares of the company traded hands. The company’s market capitalization is $18.59 million. Onconova Therapeutics has a 52 week low of $1.78 and a 52 week high of $6.42. The company’s 50-day moving average price is $2.03 and its 200-day moving average price is $2.51.

Onconova Therapeutics (NASDAQ:ONTX) last released its earnings results on Monday, May 15th. The biopharmaceutical company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by $0.27. Onconova Therapeutics had a negative return on equity of 574.49% and a negative net margin of 485.01%. The firm had revenue of $0.21 million for the quarter. Equities research analysts forecast that Onconova Therapeutics will post ($3.30) EPS for the current fiscal year.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ONTX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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