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S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
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S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
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S&P 500   3,768.25
DOW   30,814.26
QQQ   311.86
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Onconova Therapeutics (NASDAQ:ONTX) Upgraded to "Hold" by Zacks Investment Research

Thursday, January 14, 2021 | MarketBeat

Onconova Therapeutics (NASDAQ:ONTX) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, "Onconova Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company. It focuses on discovering and developing small molecule drug candidates to treat cancer. The Company's products under different phases of development include Rigosertib intravenous (IV), Rigosertib Oral, Rigosertib IV, ON 013105 and Recilisib. Onconova Therapeutics, Inc. is headquartered in Newtown, Pennsylvania. "

A number of other equities research analysts have also recently commented on the stock. Maxim Group reissued a "hold" rating on shares of Onconova Therapeutics in a research report on Friday, November 13th. Noble Financial raised shares of Onconova Therapeutics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, December 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of "Hold" and an average price target of $1.20.

Shares of ONTX opened at $0.68 on Thursday. The company has a 50 day moving average price of $0.43 and a 200-day moving average price of $0.49. Onconova Therapeutics has a fifty-two week low of $0.19 and a fifty-two week high of $1.56. The stock has a market capitalization of $125.76 million, a PE ratio of -0.46 and a beta of 1.93.

Onconova Therapeutics (NASDAQ:ONTX) last announced its quarterly earnings results on Thursday, November 12th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Onconova Therapeutics had a negative return on equity of 214.79% and a negative net margin of 11,357.71%. The business had revenue of $0.07 million during the quarter, compared to analysts' expectations of $4.10 million. On average, equities analysts expect that Onconova Therapeutics will post -0.12 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ONTX. Jane Street Group LLC purchased a new position in shares of Onconova Therapeutics in the second quarter worth $28,000. Captrust Financial Advisors purchased a new position in shares of Onconova Therapeutics in the second quarter worth $59,000. Quilter Plc raised its holdings in shares of Onconova Therapeutics by 78.4% in the third quarter. Quilter Plc now owns 284,750 shares of the biopharmaceutical company's stock worth $80,000 after buying an additional 125,117 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Onconova Therapeutics by 3,020.1% in the third quarter. Squarepoint Ops LLC now owns 331,039 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 320,429 shares during the last quarter. Finally, Perkins Capital Management Inc. purchased a new position in shares of Onconova Therapeutics in the third quarter worth $105,000. 5.87% of the stock is 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.

Further Reading: How do investors use RSI to grade stocks?

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]


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