Onconova Therapeutics (NASDAQ:ONTX) Given a $8.00 Price Target at Maxim Group

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Onconova Therapeutics (NASDAQ:ONTX) received a $8.00 price target from research analysts at Maxim Group in a report issued on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price target would suggest a potential upside of 200.75% from the stock’s previous close.

ONTX has been the subject of a number of other research reports. Noble Financial began coverage on shares of Onconova Therapeutics in a research report on Thursday, July 25th. They set an “outperform” rating and a $12.00 target price for the company. Zacks Investment Research upgraded shares of Onconova Therapeutics from a “hold” rating to a “strong-buy” rating and set a $2.50 price target on the stock in a research report on Tuesday, August 20th. ValuEngine upgraded shares of Onconova Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Finally, HC Wainwright set a $25.00 price objective on shares of Onconova Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Onconova Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $11.88.

Shares of ONTX stock traded down $0.02 during mid-day trading on Monday, reaching $2.66. The stock had a trading volume of 59,303 shares, compared to its average volume of 72,449. The company has a market cap of $16.44 million, a P/E ratio of -0.53 and a beta of 2.64. Onconova Therapeutics has a 12-month low of $1.69 and a 12-month high of $11.17. The business has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $3.24.

Onconova Therapeutics (NASDAQ:ONTX) last released its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.98) by $0.38. The business had revenue of $2.02 million for the quarter, compared to analyst estimates of $0.25 million. Onconova Therapeutics had a negative net margin of 976.64% and a negative return on equity of 872.01%. On average, equities analysts forecast that Onconova Therapeutics will post -3.49 EPS for the current fiscal year.

In related news, major shareholder Tyndall Capital Partners L. P sold 10,927 shares of the stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink. Insiders sold 14,565 shares of company stock worth $42,854 over the last 90 days. Company insiders own 9.70% of the company’s stock.

An institutional investor recently raised its position in Onconova Therapeutics stock. Vanguard Group Inc. boosted its position in Onconova Therapeutics Inc (NASDAQ:ONTX) by 61.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,168 shares of the biopharmaceutical company’s stock after purchasing an additional 25,305 shares during the quarter. Vanguard Group Inc. owned about 1.10% of Onconova Therapeutics worth $189,000 as of its most recent filing with the Securities and Exchange Commission. 39.47% of the stock is owned by institutional investors and hedge funds.

Onconova Therapeutics Company Profile

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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