The stock of Onconova Therapeutics Inc (NASDAQ:ONTX) reached all time low today, Oct, 17 and still has $2.29 target or 14.00% below today’s $2.66 share price. This indicates more downside for the $16.55M company. This technical setup was reported by Barchart.com. If the $2.29 PT is reached, the company will be worth $2.32 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock last traded at $2.66 per share. It is down 42.39% since March 14, 2016 and is downtrending. It has underperformed by 48.00% 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 notable recent Onconova Therapeutics Inc (NASDAQ:ONTX) news were published by: Nasdaq.com which released: “Onconova Therapeutics, Inc. to Present Corporate Update at 2016 BIO Investor Forum” on October 13, 2016, also Fool.com with their article: “Why Onconova Therapeutics Inc. Shares Imploded” published on February 20, 2014, Globenewswire.com published: “Onconova Therapeutics, Inc. Announces Results of Annual Meeting, Effective …” on May 20, 2016. More interesting news about Onconova Therapeutics Inc (NASDAQ:ONTX) were released by: Globenewswire.com and their article: “Onconova Therapeutics, Inc. Announces Appointment of Jack E. Stover to Board …” published on May 23, 2016 as well as Fool.com‘s news article titled: “Why Onconova Therapeutics Inc. Shares Crashed” with publication date: December 18, 2013.
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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