Onconova Therapeutics (ONTX) Given a $6.00 Price Target by HC Wainwright Analysts

HC Wainwright set a $6.00 price objective on Onconova Therapeutics (NASDAQ:ONTX) in a report published on Thursday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

“Rigosertib Expanding Footprint; Moving Forward With CRADA to Address RASopathies Moving forward on RASopathies with NCI. Onconova announced today that it has entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) for the development of rigosertib in pediatric cancer associated RASopathies. The NCI is to conduct and fund the majority of research, including preclinical laboratory studies and a clinical trial, whereas Onconova is expected to provide rigosertib and initial funding for non-clinical studies. The studies are slated to start in 2018. The NCI is to focus on RASopathy related cancers in pediatric patients, whereas Onconova is expecting to focus on Juvenile Myelomonocytic Leukemia (JMML). This event signifies the potential expansion of rigosertib use in a number of cancers and syndromes driven by RAS pathway hyperactivation.”,” HC Wainwright’s analyst commented.

Several other research analysts have also recently commented on the company. Zacks Investment Research cut Onconova Therapeutics from a hold rating to a sell rating in a research note on Tuesday, December 12th. Maxim Group set a $6.00 price target on Onconova Therapeutics and gave the stock a buy rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Onconova Therapeutics has a consensus rating of Hold and a consensus price target of $7.33.

Onconova Therapeutics (NASDAQ ONTX) traded up $0.06 during trading hours on Thursday, hitting $1.58. The company had a trading volume of 261,700 shares, compared to its average volume of 161,867. Onconova Therapeutics has a fifty-two week low of $1.21 and a fifty-two week high of $3.88. The firm has a market capitalization of $16.37, a PE ratio of -0.57 and a beta of 0.10.

Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.02. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 2,855.94%. The business had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.29 million. equities research analysts expect that Onconova Therapeutics will post -2.82 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Onconova Therapeutics by 58.4% during the second quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after buying an additional 32,418 shares in the last quarter. 683 Capital Management LLC raised its stake in Onconova Therapeutics by 21.0% during the third quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock valued at $641,000 after buying an additional 65,140 shares in the last quarter. Sabby Management LLC raised its stake in Onconova Therapeutics by 104.0% during the second quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after buying an additional 399,640 shares in the last quarter. Finally, Tyndall Capital Partners L P raised its stake in Onconova Therapeutics by 91.4% during the second quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock valued at $2,154,000 after buying an additional 476,190 shares in the last quarter. Hedge funds and other institutional investors own 25.44% of the company’s stock.

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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.

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