Onconova Therapeutics (NASDAQ: ONTX) Lowered to Hold at Zacks Investment Research

Onconova (NASDAQ: ONTX) was reduced by Zacks Investment Research  from a “purchase” score to a “hold” rating in a research note released to investors on Thursday, Zacks.com reports.

According to Zacks, “Onconova Therapeutics, Inc. runs as a clinical-stage biopharmaceutical firm. It concentrates on discovering and establishing tiny molecule drug prospects to deal with cancer cells. The Business‘s products under different stages of development consist of Rigosertib intravenous (IV), Rigosertib Oral, Rigosertib IV, ON 013105 and Recilisib. Onconova Therapeutics, Inc. is headquartered in Newtown, Pennsylvania. “

Several various other equities research experts likewise lately commented on the business. Noble Financial reissued a “purchase” rating as well as released a $11.00 rate objective on shares of Onconova Therapeutics in a record on Thursday, September 23rd. Guggenheim dropped their cost target on Onconova Therapeutics from $29.00 to $12.00 and also established a “acquire” ranking on the stock in a research note on Tuesday, September 28th.

NASDAQ: ONTX opened up at $2.25 on Thursday. Onconova Therapeutics has a twelve month low of $2.22 as well as a twelve month high of $28.95. The business has a 50 day moving average rate of $2.90 and a two-hundred day moving ordinary rate of $4.16. The firm has a market cap of $46.76 million, a P/E proportion of -1.82 and a beta of 1.67.

Onconova Therapeutics (NASDAQ: ONTX) last released its quarterly revenues results on Thursday, November 11th. The biopharmaceutical company reported ($ 0.22) incomes per share for the quarter, covering analysts’ agreement estimates of ($ 0.33) by $0.11. Onconova Therapeutics had a negative return on equity of 59.78% and a negative net margin of 8,294.27%. The firm had income of $0.06 million throughout the quarter, contrasted to the consensus quote of $0.06 million. Throughout the exact same quarter in the previous year, the firm uploaded ($ 0.45) EPS. En masse, research analysts anticipate that Onconova Therapeutics will upload -1.18 EPS for the current year.

A variety of hedge funds have lately bought and sold shares of ONTX. GSA Resources Allies LLP purchased a new position in Onconova Therapeutics during the third quarter worth $922,000. Hudson Bay Capital Management LP purchased a brand-new setting in shares of Onconova Therapeutics in the 3rd quarter worth $635,000. Pura Vida Investments LLC got a brand-new setting in shares of Onconova Therapeutics in the third quarter worth $575,000. CVI Holdings LLC acquired a new placement in shares of Onconova Therapeutics in the 3rd quarter worth $493,000. Lastly, Dimensional Fund Advisors LP purchased a brand-new placement in shares of Onconova Therapeutics in the second quarter worth $509,000. Hedge funds as well as other institutional investors possess 13.36% of the business’s stock.

Regarding Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical business, which participates in the identification and growth of oncology therapeutics. It concentrates on discovering as well as developing tiny molecule medicine prospects to deal with cancer. The firm was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 and also is headquartered in Newtown, PA

. Get a cost-free duplicate of the Zacks research report on Onconova Therapeutics (ONTX).

For additional information regarding research offerings from Zacks Investment Research, see Zacks.com.

This immediate news alert was produced by narrative science innovation as well as economic data from Market in order to provide readers with the fastest and most exact reporting. This tale was assessed by Market’s editorial team prior to publication. 

 

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