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

ONTX was downgraded by Zacks  from a “acquire” rating to a “hold” ranking in a research note released to investors on Thursday, Zacks.com reports.

According to Zacks, “Onconova Therapeutics, Inc. operates as a clinical-stage biopharmaceutical business. It concentrates on finding and developing little molecule drug candidates to deal with cancer. The Firm‘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. “

A number of other equities research analysts likewise recently talked about the firm. Noble Financial reissued a “acquire” ranking and provided a $11.00 cost 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 as well as established a “purchase” rating on the stock in a research note on Tuesday, September 28th.

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

Onconova Therapeutics (NASDAQ: ONTX) last launched its quarterly profits results on Thursday, November 11th. The biopharmaceutical company reported ($ 0.22) incomes per share for the quarter, topping experts’ consensus price quotes of ($ 0.33) by $0.11. Onconova Therapeutics had an unfavorable return on equity of 59.78% and an unfavorable internet margin of 8,294.27%. The firm had profits of $0.06 million during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the previous year, the company posted ($ 0.45) EPS. En masse, research analysts anticipate that Onconova Therapeutics will upload -1.18 EPS for the existing year.

A variety of hedge funds have actually lately bought and sold shares of ONTX. GSA Resources Partners LLP bought a new setting in Onconova Therapeutics during the third quarter worth $922,000. Hudson Bay Capital Monitoring LP got a brand-new placement in shares of Onconova Therapeutics in the 3rd quarter worth $635,000. Pura Vida Investments LLC bought a new placement in shares of Onconova Therapeutics in the 3rd quarter worth $575,000. CVI Holdings LLC bought a new placement in shares of Onconova Therapeutics in the third quarter worth $493,000. Lastly, Dimensional Fund Advisors LP acquired a brand-new setting in shares of Onconova Therapeutics in the 2nd quarter worth $509,000. Hedge funds and other institutional financiers have 13.36% of the business’s stock.

Regarding Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical business, which engages in the identification as well as growth of oncology therapeutics. It focuses on finding as well as creating small molecule medication prospects to deal with cancer cells. The business was founded by Ramesh Kumar as well as E. Premkumar Reddy on December 22, 1998 and also is headquartered in Newtown, PA

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