Onconova Therapeutics, Inc. (NASDAQ:ONTX): Why Investors Shouldn’t Ditch ONTX stock in 2021 – Marketing Sentinel

Onconova Therapeutics, Inc. (NASDAQ:ONTX): Why Investors Shouldn’t Ditch ONTX stock in 2021

In the last trading session, 7,088,792 Onconova Therapeutics, Inc. (NASDAQ:ONTX) shares changed hands as the company’s beta touched 1.81. With the company’s per share price at $0.96 changed hands at -$0.05 or -0.05% during last session, the market valuation stood at $226.77 Million. ONTX’s last price was a discount, traded about -101.04% off its 52-week high of $1.93. The share price had its 52-week low at $0.19, which suggests the last value was 80.21% up since then. When we look at Onconova Therapeutics, Inc.’s average trading volume, we note the 10-day average is 13Million shares, with the 3-month average coming to 55.35 Million.

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Analysts gave the Onconova Therapeutics, Inc. (ONTX) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.7. If we narrow down to specifics, the data shows that none out of 2 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 1 recommended ONTX as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. Onconova Therapeutics, Inc.’s EPS for the current quarter is expected to be -$0.03.

Onconova Therapeutics, Inc. (NASDAQ:ONTX) trade information

Although ONTX has turned red as seen at the end of in last trading. With action -5.11%, the performance over the past five days has been red. The jump to weekly highs of $1.15 on Tuesday, Mar 23 added 16.66% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.06%, with the 5-day performance at -0.19% in the red. However, in the 30-day time frame, Onconova Therapeutics, Inc. (NASDAQ:ONTX) is -0.23% down. Looking at the short shares, we see there were 11.62 Million shares sold at short interest cover period of 0.21 days.

The consensus price target for the stock as assigned by Wall Street analysts is $2.1, meaning bulls need an upside of 118.75% from its current market value. According to analyst projections, ONTX’s forecast low is $2.1 with $2.1 as the target high. To hit the forecast high, the stock’s price needs a +118.75% upsurge from its current level, while the stock would need to tank 118.75% for it to hit the projected low.

Onconova Therapeutics, Inc. (ONTX) estimates and forecasts

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $60Million. 1 analysts are of the opinion that Onconova Therapeutics, Inc.’s revenue for the quarter ending June 01, 2021 will be $60Million. The company’s revenue for the corresponding quarters a year ago was $150Million and $56Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -60%. The estimates for the next quarter sales put growth at 7.1%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 75.3%. The 2021 estimates are for Onconova Therapeutics, Inc. earnings to increase by 90.3%, but the outlook for the next 5-year period is at 0% per year.

Onconova Therapeutics, Inc. (NASDAQ:ONTX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.56% of Onconova Therapeutics, Inc. shares while 11.21% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 11.28%. There are 37 institutions holding the Onconova Therapeutics, Inc. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Dec 30, 2020, the company held 3.49% of the shares, roughly 8.26 Million ONTX shares worth $3.85 Million.

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Geode Capital Management, LLC holds the second largest percentage of outstanding shares, with 0.54% or 1.29 Million shares worth $600.05 Thousand as of Dec 30, 2020.

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Among Mutual Funds, the top two as of Dec 30, 2020 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 5849848 shares estimated at $2.72 Million under it, the former controlled 2.47% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.91% of the shares, roughly 2.15 Million shares worth around $999.22 Thousand.

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