Onconova Therapeutics, Inc. (NASDAQ:ONTX) Expected to Post Earnings of -$0.26 Per Share

Brokerages expect Onconova Therapeutics, Inc. (NASDAQ:ONTX) to announce earnings of ($0.26) per share for the current quarter, according to Zacks. Two analysts have provided estimates for Onconova Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.32) and the highest estimate coming in at ($0.20). Onconova Therapeutics reported earnings of ($0.45) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 42.2%. The business is expected to report its next quarterly earnings results on Thursday, November 11th.

According to Zacks, analysts expect that Onconova Therapeutics will report full year earnings of ($1.16) per share for the current year, with EPS estimates ranging from ($1.32) to ($0.99). For the next fiscal year, analysts expect that the business will post earnings of ($1.13) per share, with EPS estimates ranging from ($1.31) to ($0.94). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Onconova Therapeutics.

Onconova Therapeutics (NASDAQ:ONTX) last posted its quarterly earnings results on Thursday, August 12th. The biopharmaceutical company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Onconova Therapeutics had a negative return on equity of 97.66% and a negative net margin of 9,159.32%.

A number of equities research analysts have recently issued reports on the company. Noble Financial restated a “buy” rating and set a $11.00 price objective on shares of Onconova Therapeutics in a report on Tuesday, June 29th. Zacks Investment Research cut Onconova Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, September 7th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in shares of Onconova Therapeutics in the second quarter valued at approximately $169,000. State Street Corp raised its position in shares of Onconova Therapeutics by 23.9% in the second quarter. State Street Corp now owns 115,090 shares of the biopharmaceutical company’s stock valued at $798,000 after buying an additional 22,190 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Onconova Therapeutics in the second quarter valued at approximately $128,000. Dimensional Fund Advisors LP acquired a new stake in shares of Onconova Therapeutics in the second quarter valued at approximately $509,000. Finally, Deutsche Bank AG acquired a new stake in shares of Onconova Therapeutics in the second quarter valued at approximately $113,000. Institutional investors own 15.45% of the company’s stock.

Shares of NASDAQ:ONTX traded up $1.24 during trading on Friday, reaching $6.14. 780,799 shares of the stock were exchanged, compared to its average volume of 1,762,690. Onconova Therapeutics has a 12 month low of $3.60 and a 12 month high of $28.95. The firm has a market cap of $96.90 million, a PE ratio of -4.17 and a beta of 1.74. The stock has a 50-day moving average price of $5.09 and a 200-day moving average price of $8.33.

Onconova Therapeutics Company Profile

Onconova Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the identification and development of oncology therapeutics. It focuses on discovering and developing small molecule drug candidates to treat cancer. The company was founded by Ramesh Kumar and E. Premkumar Reddy on December 22, 1998 and is headquartered in Newtown, PA.

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