Onconova Therapeutics, Inc. (ONTX) Expected to Post Earnings of -$0.66 Per Share
Equities research analysts expect Onconova Therapeutics, Inc. (NASDAQ:ONTX) to report ($0.66) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Onconova Therapeutics’ earnings. The lowest EPS estimate is ($0.73) and the highest is ($0.59). Onconova Therapeutics posted earnings of ($0.29) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 127.6%. The firm is scheduled to report its next earnings report on Monday, November 13th.
On average, analysts expect that Onconova Therapeutics will report full-year earnings of ($3.03) per share for the current financial year, with EPS estimates ranging from ($3.30) to ($2.75). For the next year, analysts expect that the business will report earnings of ($1.85) per share, with EPS estimates ranging from ($2.02) to ($1.67). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Onconova Therapeutics.
Onconova Therapeutics (NASDAQ:ONTX) last released its earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.43. Onconova Therapeutics had a negative net margin of 762.13% and a negative return on equity of 558.97%. The company had revenue of $0.32 million for the quarter, compared to the consensus estimate of $0.25 million.
ONTX has been the topic of a number of analyst reports. ValuEngine raised Onconova Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Dawson James reissued a “buy” rating on shares of Onconova Therapeutics in a report on Tuesday, July 25th. Maxim Group set a $6.00 price objective on Onconova Therapeutics and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, HC Wainwright initiated coverage on Onconova Therapeutics in a report on Monday, October 9th. They set a “buy” rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Onconova Therapeutics has a consensus rating of “Buy” and a consensus target price of $7.33.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Tyndall Capital Partners L P increased 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 acquiring an additional 476,190 shares during the last quarter. Sabby Management LLC increased 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 acquiring an additional 399,640 shares during the last quarter. Finally, Vanguard Group Inc. increased 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 acquiring an additional 32,418 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Onconova Therapeutics (ONTX) traded down 5.43% during mid-day trading on Friday, reaching $2.09. 81,738 shares of the company’s stock traded hands. The firm’s 50-day moving average is $2.02 and its 200 day moving average is $2.00. Onconova Therapeutics has a one year low of $1.46 and a one year high of $3.88. The firm’s market cap is $20.59 million.
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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