Onconova Therapeutics (NASDAQ:ONTX) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Onconova Therapeutics (NASDAQ:ONTX) from a sell rating to a hold rating in a report issued on Wednesday, 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 research firms have also recently commented on ONTX. Maxim Group reiterated a buy rating and set a $16.00 target price on shares of Onconova Therapeutics in a research report on Tuesday, May 14th. ValuEngine upgraded Vale from a sell rating to a hold rating in a research report on Tuesday. Finally, HC Wainwright set a $25.00 target price on Onconova Therapeutics and gave the stock a buy rating in a research report on Tuesday, May 14th.

Onconova Therapeutics stock opened at $2.30 on Wednesday. Onconova Therapeutics has a 1-year low of $1.69 and a 1-year high of $11.17. The firm has a market capitalization of $13.80 million, a PE ratio of -0.46 and a beta of 2.69. The company has a fifty day simple moving average of $3.11.

Onconova Therapeutics (NASDAQ:ONTX) last posted its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($1.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.11) by ($0.18). Onconova Therapeutics had a negative net margin of 3,153.42% and a negative return on equity of 310.58%. The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.08 million. Equities research analysts predict that Onconova Therapeutics will post -3.39 EPS for the current year.

In other news, major shareholder Tyndall Capital Partners L. P sold 10,927 shares of Onconova Therapeutics stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $2.83, for a total transaction of $30,923.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold 13,765 shares of company stock worth $40,646 in the last quarter. Insiders own 9.50% of the company’s stock.

An institutional investor recently bought a new position in Onconova Therapeutics stock. Dimensional Fund Advisors LP purchased a new position in shares of Onconova Therapeutics Inc (NASDAQ:ONTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,086 shares of the biopharmaceutical company’s stock, valued at approximately $28,000. Dimensional Fund Advisors LP owned about 0.23% of Onconova Therapeutics as of its most recent SEC filing. Institutional investors own 38.62% of the company’s stock.

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.

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