HC Wainwright restated their buy rating on shares of Onconova Therapeutics (NASDAQ:ONTX) in a report released on Friday morning. They currently have a $8.00 target price on the biopharmaceutical company’s stock.
“Buy-rated Cytori Therapeutics, Inc. (CYTX, $0.70 PT) reported 4Q17 results AMC Thursday, 3/8/2018, and held a corresponding conference call at 5:30pm ET. CYTX posted a top line/ EPS/adj. EBITDA of $1.5M/($0.20)/($2.9)M versus our estimate of $2.0M/($0.10)/($3.3)M and consensus $2.6M/($0.10)/($1.7)M. The revenue miss was primarily due to lower Celution Systems sales in Japan as 4Q government contract revenue through BARDA for the R&D of medical countermeasures for thermal burns of $0.9M was just shy of our $1.0M estimate. BARDA revenues should continue to increase as CYTX gets ready to commence its pilot trial (for additional info, see Quick Note dated 6/1/17). Meanwhile, CYTX’s EPS would have been in line with our projection but the company recognized $4.0M in one-time non-cash expenses related to a beneficial conversion feature for convertible preferred stock. CYTX’s adj.”,” the firm’s analyst wrote.
ONTX has been the subject of a number of other reports. Maxim Group set a $6.00 price objective on Onconova Therapeutics and gave the stock a buy rating in a report on Thursday, November 9th. Zacks Investment Research raised Onconova Therapeutics from a sell rating to a hold rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Onconova Therapeutics currently has an average rating of Hold and an average price target of $8.00.
Onconova Therapeutics (NASDAQ:ONTX) last issued its quarterly earnings data on Thursday, March 8th. The biopharmaceutical company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.10. The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.31 million. Onconova Therapeutics had a negative return on equity of 558.97% and a negative net margin of 3,061.37%. equities research analysts anticipate that Onconova Therapeutics will post -1.66 EPS for the current year.
In other Onconova Therapeutics news, major shareholder 683 Capital Management, Llc bought 200,000 shares of Onconova Therapeutics stock in a transaction dated Thursday, February 8th. The stock was bought at an average cost of $1.04 per share, with a total value of $208,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.30% of the company’s stock.
A hedge fund recently raised its stake in Onconova Therapeutics stock. 683 Capital Management LLC increased its holdings in Onconova Therapeutics Inc (NASDAQ:ONTX) by 24.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 464,934 shares of the biopharmaceutical company’s stock after acquiring an additional 89,934 shares during the period. 683 Capital Management LLC owned about 4.32% of Onconova Therapeutics worth $697,000 at the end of the most recent quarter. Institutional investors own 12.72% of the company’s stock.
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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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