Brokerages Set Oncolytics Biotech Inc. (NASDAQ:ONCY) Price Target at $5.00

Oncolytics Biotech Inc. (NASDAQ:ONCY) has been assigned an average rating of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $5.00.

Several analysts have recently commented on the company. Wall Street Zen upgraded Oncolytics Biotech from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Lake Street Capital initiated coverage on Oncolytics Biotech in a research note on Wednesday, August 13th. They issued a “buy” rating and a $7.00 target price for the company.

Oncolytics Biotech Trading Down 1.6%

Shares of ONCY opened at $1.25 on Thursday. Oncolytics Biotech has a 12 month low of $0.33 and a 12 month high of $1.53. The stock has a fifty day moving average price of $1.11 and a 200-day moving average price of $0.78. The firm has a market cap of $125.45 million, a PE ratio of -4.63 and a beta of 1.19.

Oncolytics Biotech (NASDAQ:ONCY) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. As a group, research analysts forecast that Oncolytics Biotech will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Oncolytics Biotech

A hedge fund recently raised its stake in Oncolytics Biotech stock. Seeds Investor LLC increased its position in Oncolytics Biotech Inc. (NASDAQ:ONCY) by 17.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,767 shares of the company’s stock after acquiring an additional 33,826 shares during the period. Seeds Investor LLC owned approximately 0.23% of Oncolytics Biotech worth $173,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 6.82% of the stock is owned by institutional investors.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.