Onconova Therapeutics (NASDAQ:ONTX) released its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.98) by $0.38, Bloomberg Earnings reports. Onconova Therapeutics had a negative net margin of 3,153.42% and a negative return on equity of 310.58%. The company had revenue of $2.02 million for the quarter, compared to analysts’ expectations of $0.25 million.
Shares of ONTX traded up $0.01 during mid-day trading on Thursday, reaching $2.29. 1,957 shares of the stock traded hands, compared to its average volume of 30,189. The stock has a market cap of $13.14 million, a price-to-earnings ratio of -0.46 and a beta of 2.70. The firm has a fifty day moving average of $2.60. Onconova Therapeutics has a 12-month low of $1.69 and a 12-month high of $11.17.
In other news, major shareholder Tyndall Capital Partners L. P sold 10,927 shares of Onconova Therapeutics stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 accessible through this link. Insiders have sold 13,765 shares of company stock worth $40,646 in the last quarter. Insiders own 9.70% of the company’s stock.
Several equities research analysts recently issued reports on the stock. ValuEngine cut shares of Onconova Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Noble Financial assumed coverage on shares of Onconova Therapeutics in a research report on Thursday, July 25th. They issued an “outperform” rating and a $12.00 target price on the stock. Maxim Group set a $8.00 target price on shares of Onconova Therapeutics and gave the stock a “buy” rating in a research report on Monday. HC Wainwright set a $25.00 target price on shares of Onconova Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Zacks Investment Research raised shares of Onconova Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.13.
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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