Onconova Therapeutics, Inc. (ONTX) Given a $6.00 Price Target by Maxim Group Analysts

Maxim Group set a $6.00 target price on Onconova Therapeutics, Inc. (NASDAQ:ONTX) in a research note released on Monday, May 15th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Separately, Laidlaw assumed coverage on shares of Onconova Therapeutics in a report on Thursday, April 27th. They issued a buy rating and a $10.00 target price for the company.

Shares of Onconova Therapeutics (NASDAQ ONTX) traded up 2.08% during trading on Monday, reaching $1.96. 45,070 shares of the company traded hands. The stock’s market capitalization is $18.59 million. Onconova Therapeutics has a 12 month low of $1.78 and a 12 month high of $6.44. The company has a 50-day moving average of $2.03 and a 200-day moving average of $2.51.

Onconova Therapeutics (NASDAQ:ONTX) last posted its earnings results on Monday, May 15th. The biopharmaceutical company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by $0.27. The company had revenue of $0.21 million during the quarter. Onconova Therapeutics had a negative return on equity of 574.49% and a negative net margin of 485.01%. Analysts forecast that Onconova Therapeutics will post ($3.30) earnings per share for the current fiscal year.

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In other Onconova Therapeutics news, Director E Premkumar Reddy acquired 119,048 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was acquired at an average price of $2.10 per share, for a total transaction of $250,000.80. Following the acquisition, the director now directly owns 385,832 shares in the company, valued at $810,247.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ramesh Kumar acquired 23,810 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was acquired at an average price of $2.10 per share, with a total value of $50,001.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 144,287 shares of company stock valued at $303,003. 27.30% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Onconova Therapeutics stock. Renaissance Technologies LLC increased its stake in Onconova Therapeutics, Inc. (NASDAQ:ONTX) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,700 shares of the biopharmaceutical company’s stock after buying an additional 26,200 shares during the period. Renaissance Technologies LLC owned 1.82% of Onconova Therapeutics worth $279,000 at the end of the most recent quarter. Institutional investors and hedge funds own 15.44% of the company’s stock.

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.

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