Initiates Coverage on Onconova Therapeutics (NASDAQ:ONTX)

Equities research analysts at began coverage on shares of Onconova Therapeutics (NASDAQ:ONTXGet Rating) in a report issued on Saturday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, Noble Financial reaffirmed a “buy” rating and issued a $11.00 target price on shares of Onconova Therapeutics in a research report on Thursday, May 12th.

Onconova Therapeutics Stock Performance

Shares of NASDAQ:ONTX opened at $1.45 on Friday. Onconova Therapeutics has a one year low of $1.00 and a one year high of $6.77. The stock has a fifty day moving average of $1.28 and a 200-day moving average of $1.48. The company has a market capitalization of $30.30 million, a PE ratio of -1.71 and a beta of 1.51.

Onconova Therapeutics (NASDAQ:ONTXGet Rating) last announced its quarterly earnings data on Wednesday, May 11th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). Onconova Therapeutics had a negative net margin of 6,889.38% and a negative return on equity of 36.41%. The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the company posted ($0.30) EPS. As a group, research analysts forecast that Onconova Therapeutics will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Onconova Therapeutics

An institutional investor recently raised its position in Onconova Therapeutics stock. Beacon Pointe Advisors LLC raised its stake in shares of Onconova Therapeutics, Inc. (NASDAQ:ONTXGet Rating) by 147.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,027 shares of the biopharmaceutical company’s stock after buying an additional 27,396 shares during the period. Beacon Pointe Advisors LLC owned 0.22% of Onconova Therapeutics worth $85,000 at the end of the most recent quarter. Institutional investors and hedge funds own 11.53% of the company’s stock.

Onconova Therapeutics Company Profile

(Get Rating)

Onconova Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel products to treat cancer. It has two clinical-stage programs, including narazaciclib (ON 123300), a multi-targeted kinase inhibitor that is in Phase I study for solid tumors, as well as hematological malignancies as a single agent or in combination with other anti-cancer therapies; and oral rigosertib alone or in combination with PD-1 inhibitor, which is in Phase I/IIa for the treatment of progressive K-Ras mutated non-small cell lung cancer.

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