The stock of Onconova Therapeutics Inc (NASDAQ:ONTX) hit a new 52-week low and has $2.35 target or 13.00% below today’s $2.70 share price. The 5 months bearish chart indicates high risk for the $16.99M company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $2.35 price target is reached, the company will be worth $2.21 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 19,345 shares traded hands. Onconova Therapeutics Inc (NASDAQ:ONTX) has declined 38.37% since March 10, 2016 and is downtrending. It has underperformed by 45.89% the S&P500.
Analysts await Onconova Therapeutics Inc (NASDAQ:ONTX) to report earnings on November, 9.
According to Zacks Investment Research, “Onconova Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company. It focuses on discovering and developing small molecule drug candidates to treat cancer. The Company’s products under different phases of development include Rigosertib intravenous (IV), Rigosertib Oral, Rigosertib IV, ON 013105 and Recilisib. Onconova Therapeutics, Inc. is headquartered in Newtown, Pennsylvania.”
More important recent Onconova Therapeutics Inc (NASDAQ:ONTX) news were published by: Fool.com which released: “Why Onconova Therapeutics Inc. Shares Imploded” on February 20, 2014, also Globenewswire.com published article titled: “Onconova Therapeutics, Inc. Announces Appointment of Jack E. Stover to Board …”, Fool.com published: “Why Onconova Therapeutics Inc. Shares Crashed” on December 18, 2013. More interesting news about Onconova Therapeutics Inc (NASDAQ:ONTX) was released by: Nasdaq.com and their article: “Onconova Therapeutics, Inc. to Present Corporate Updates at Upcoming Investor …” with publication date: September 07, 2016.
ONTX Company Profile
Onconova Therapeutics, Inc., incorporated on December 22, 1998, is a clinical-stage biopharmaceutical company. The Firm 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 Firm has created a targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells. It has over three clinical-stage product candidates and various preclinical programs that target kinases, cellular metabolism or cell division in preclinical development. The Company’s lead product candidate, rigosertib, is being tested in both intravenous (IV) and oral formulations as a single agent, and the oral formulation is also being tested in combination with azacitidine, in clinical trials for patients with myelodysplastic syndromes (MDS), and related cancers.
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