Onconova Therapeutics, Inc. (ONTX) was a big mover last session, as the company saw its shares rise nearly 10% on the day. The upside was driven by the company’s announcement that it will present updates at the Cantor Fitzgerald Healthcare Conference in New York on Jul 8. This also led to far more shares changing hands than in a normal session. Yesterday's rally reverses the downtrend for the company since Jun 23, as the stock is now down over 14%.
In the last 30 days, the company has not seen any estimate revision while its Zacks Consensus Estimate moved lower, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
Onconova Therapeutics currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked med-drugs stock is Portola Pharmaceuticals, Inc. (PTLA) with a Zacks Rank #1 (Strong Buy).
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