Today’s Stock On Watch: Could Onconova Therapeutics Inc See a Reversal After Breaking Its 52 Week Low?

Today's Stock On Watch: Could Onconova Therapeutics Inc See a Reversal After Breaking Its 52 Week Low?

The stock of Onconova Therapeutics Inc (NASDAQ:ONTX) hit a new 52-week low and has $2.13 target or 12.00% below today’s $2.42 share price. The 8 months bearish chart indicates high risk for the $15.34 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $2.13 price target is reached, the company will be worth $1.84M 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. The stock closed at $2.42 during the last session. It is down 58.28% since April 1, 2016 and is downtrending. It has underperformed by 59.49% 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: Fool.com which released: “Why Onconova Therapeutics Inc. Shares Imploded” on February 20, 2014, also Globenewswire.com with their article: “Onconova Therapeutics, Inc. Announces Appointment of Jack E. Stover to Board …” published on May 23, 2016, 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: Fool.com and their article: “Why Onconova Therapeutics Inc. Shares Crashed” published on December 18, 2013 as well as Fiercebiotech.com‘s news article titled: “Onconova Therapeutics, Inc. Receives Notice of Termination for Convenience …” with publication date: March 04, 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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