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

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NASDAQ: ONTX was downgraded by Zacks Investment Research  from a “buy” rating to a “hold” rating in a research note provided to financiers on Thursday, records.

According to Zacks, “Onconova Therapeutics, Inc. operates as a clinical-stage biopharmaceutical firm. It focuses on uncovering as well as developing small particle medicine prospects to deal with cancer cells. The Firm‘s items under various stages of advancement include Rigosertib intravenous (IV), Rigosertib Oral, Rigosertib IV, ON 013105 and Recilisib. Onconova Therapeutics, Inc. is headquartered in Newtown, Pennsylvania. “

Several other equities research experts also recently discussed the business. Noble Financial editioned a “buy” score as well as issued a $11.00 rate purpose on shares of Onconova Therapeutics in a record on Thursday, September 23rd. Guggenheim dropped their rate target on Onconova Therapeutics from $29.00 to $12.00 and established a “acquire” ranking 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. Business has a 50 day relocating average cost of $2.90 and also a two-hundred day relocating average cost of $4.16. The business 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 launched its quarterly profits results on Thursday, November 11th. The biopharmaceutical business reported ($ 0.22) earnings per share for the quarter, covering experts’ consensus price quotes of ($ 0.33) by $0.11. Onconova Therapeutics had a negative return on equity of 59.78% and an unfavorable web margin of 8,294.27%. The firm had earnings of $0.06 million during the quarter, contrasted to the consensus estimate of $0.06 million. During the exact same quarter in the prior year, the company uploaded ($ 0.45) EPS. As a group, research analysts forecast that Onconova Therapeutics will certainly upload -1.18 EPS for the existing year.

A variety of hedge funds have just recently bought and sold shares of ONTX. GSA Capital Allies LLP got a brand-new placement in Onconova Therapeutics throughout the third quarter worth $922,000. Hudson Bay Funding Management LP bought a brand-new placement in shares of Onconova Therapeutics in the third quarter worth $635,000. Pura Vida Investments LLC purchased a new setting in shares of Onconova Therapeutics in the third quarter worth $575,000. CVI Holdings LLC got a brand-new setting in shares of Onconova Therapeutics in the 3rd quarter worth $493,000. Lastly, Dimensional Fund Advisors LP purchased a new placement in shares of Onconova Therapeutics in the 2nd quarter worth $509,000. Hedge funds and various other institutional investors possess 13.36% of the firm’s stock.

Regarding Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical business, which takes part in the recognition and also advancement of oncology therapeutics. It focuses on discovering and also developing tiny particle drug prospects to deal with cancer. The firm was founded by Ramesh Kumar as well as E. Premkumar Reddy on December 22, 1998 as well as is headquartered in Newtown, PA

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