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

NASDAQ: ONTX was downgraded by Zacks Investment Research  from a “buy” ranking to a “hold” ranking in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Onconova Therapeutics, Inc. runs as a clinical-stage biopharmaceutical business. It concentrates on finding and also creating tiny particle medicine candidates to deal with cancer cells. The Company‘s products under different stages of advancement include Rigosertib intravenous (IV), Rigosertib Oral, Rigosertib IV, ON 013105 and also Recilisib. Onconova Therapeutics, Inc. is headquartered in Newtown, Pennsylvania. “

A number of other equities research analysts also lately discussed the business. Noble Financial reissued a “buy” ranking as well as released a $11.00 rate goal on shares of Onconova Therapeutics in a report on Thursday, September 23rd. Guggenheim dropped their rate target on Onconova Therapeutics from $29.00 to $12.00 as well as set a “purchase” rating on the stock in a research note on Tuesday, September 28th.

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

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

A variety of hedge funds have actually recently dealt shares of ONTX. GSA Resources Partners LLP purchased a new setting in Onconova Therapeutics during the 3rd quarter worth $922,000. Hudson Bay Resources Administration LP bought a new placement in shares of Onconova Therapeutics in the 3rd quarter worth $635,000. Pura Vida Investments LLC got a brand-new position in shares of Onconova Therapeutics in the third quarter worth $575,000. CVI Holdings LLC bought a brand-new placement in shares of Onconova Therapeutics in the third quarter worth $493,000. Lastly, Dimensional Fund Advisors LP acquired a new setting in shares of Onconova Therapeutics in the second quarter worth $509,000. Hedge funds and also various other institutional capitalists possess 13.36% of the company’s stock.

About Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company, which participates in the identification and also advancement of oncology therapeutics. It concentrates on uncovering and also creating small particle medicine prospects to deal with cancer. The company was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 as well as is headquartered in Newtown, PA

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