Northland Capmk Downgrades Oncternal Therapeutics (NASDAQ:ONCT) to Hold

Oncternal Therapeutics (NASDAQ:ONCT) was downgraded by equities researchers at Northland Capmk from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

Several other research firms have also recently commented on ONCT. HC Wainwright dropped their target price on shares of Oncternal Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Brookline Capital Management restated a “hold” rating on shares of Oncternal Therapeutics in a report on Thursday. Northland Securities reiterated a “market perform” rating and set a $2.00 target price on shares of Oncternal Therapeutics in a report on Thursday. Finally, StockNews.com assumed coverage on Oncternal Therapeutics in a research report on Sunday, September 8th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Oncternal Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Oncternal Therapeutics Price Performance

ONCT opened at $1.46 on Thursday. Oncternal Therapeutics has a one year low of $1.32 and a one year high of $13.14. The business has a 50 day simple moving average of $5.37 and a two-hundred day simple moving average of $7.48. The firm has a market capitalization of $4.32 million, a price-to-earnings ratio of -0.12 and a beta of 1.39.

Oncternal Therapeutics (NASDAQ:ONCT) last posted its earnings results on Thursday, August 8th. The company reported ($2.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.03) by $0.14. Oncternal Therapeutics had a negative return on equity of 136.10% and a negative net margin of 1,948.70%. The firm had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.24 million. During the same period in the previous year, the firm earned ($3.00) earnings per share. As a group, sell-side analysts expect that Oncternal Therapeutics will post -11.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Oncternal Therapeutics

An institutional investor recently bought a new position in Oncternal Therapeutics stock. Pasadena Private Wealth LLC purchased a new position in Oncternal Therapeutics, Inc. (NASDAQ:ONCT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $190,000. Pasadena Private Wealth LLC owned about 0.84% of Oncternal Therapeutics as of its most recent SEC filing. 16.05% of the stock is owned by institutional investors and hedge funds.

Oncternal Therapeutics Company Profile

Oncternal Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of oncology therapies for cancers with critical unmet medical needs. The company's clinical pipeline includes zilovertamab, a humanized monoclonal antibody that binds to receptor-tyrosine kinase-like Orphan Receptor 1 (ROR1); and ONCT-216, a small molecule inhibiting the biological activity of ETS-family transcription factor oncoproteins, which is in Phase 1/2 clinical trial.