Onconova Therapeutics (NASDAQ:ONTX) received a $6.00 price target from research analysts at HC Wainwright in a research report issued on Thursday, January 4th. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 297.35% from the company’s current price.

The analysts wrote, “Rigosertib Expanding Footprint; Moving Forward With CRADA to Address RASopathies Moving forward on RASopathies with NCI. Onconova announced today that it has entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) for the development of rigosertib in pediatric cancer associated RASopathies. The NCI is to conduct and fund the majority of research, including preclinical laboratory studies and a clinical trial, whereas Onconova is expected to provide rigosertib and initial funding for non-clinical studies. The studies are slated to start in 2018. The NCI is to focus on RASopathy related cancers in pediatric patients, whereas Onconova is expecting to focus on Juvenile Myelomonocytic Leukemia (JMML). This event signifies the potential expansion of rigosertib use in a number of cancers and syndromes driven by RAS pathway hyperactivation.””

Other equities research analysts have also issued reports about the company. Maxim Group set a $6.00 target price on Onconova Therapeutics and gave the company a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research downgraded Onconova Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Onconova Therapeutics presently has a consensus rating of “Hold” and an average price target of $7.33.

Shares of Onconova Therapeutics (ONTX) traded down $0.07 during trading hours on Thursday, hitting $1.51. The stock had a trading volume of 75,176 shares, compared to its average volume of 451,981. The firm has a market capitalization of $17.02, a price-to-earnings ratio of -0.55 and a beta of 0.10. Onconova Therapeutics has a one year low of $1.21 and a one year high of $3.88.

Onconova Therapeutics (NASDAQ:ONTX) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.02. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 2,855.94%. The firm had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.29 million. sell-side analysts anticipate that Onconova Therapeutics will post -2.82 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of ONTX. 683 Capital Management LLC raised its holdings in shares of Onconova Therapeutics by 21.0% during the 3rd quarter. 683 Capital Management LLC now owns 375,000 shares of the biopharmaceutical company’s stock valued at $641,000 after buying an additional 65,140 shares in the last quarter. Sabby Management LLC raised its holdings in shares of Onconova Therapeutics by 104.0% during the 2nd quarter. Sabby Management LLC now owns 784,000 shares of the biopharmaceutical company’s stock valued at $1,693,000 after buying an additional 399,640 shares in the last quarter. Tyndall Capital Partners L P raised its holdings in shares of Onconova Therapeutics by 91.4% during the 2nd quarter. Tyndall Capital Partners L P now owns 997,022 shares of the biopharmaceutical company’s stock valued at $2,154,000 after buying an additional 476,190 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Onconova Therapeutics by 58.4% during the 2nd quarter. Vanguard Group Inc. now owns 87,940 shares of the biopharmaceutical company’s stock valued at $190,000 after buying an additional 32,418 shares in the last quarter. Hedge funds and other institutional investors own 25.45% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Onconova Therapeutics (NASDAQ:ONTX) Given a $6.00 Price Target at HC Wainwright” was first posted by Marea Informative and is the sole property of of Marea Informative. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.mareainformativa.com/2018/01/30/hc-wainwright-reiterates-6-00-price-target-for-onconova-therapeutics-ontx-updated-updated-updated.html.

About Onconova Therapeutics

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company operates through the identification and development of oncology therapeutics segment. It is focused on discovering and developing small molecule drug candidates to treat cancer. The Company has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells.

Receive News & Ratings for Onconova Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onconova Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.