Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives $5.00 Average Price Target from Brokerages

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

Several equities analysts have recently commented on the stock. Lake Street Capital assumed coverage on shares of Oncolytics Biotech in a research report on Wednesday, August 13th. They set a “buy” rating and a $7.00 price target for the company. Wall Street Zen raised shares of Oncolytics Biotech from a “sell” rating to a “hold” rating in a report on Saturday, August 16th.

Oncolytics Biotech Stock Performance

Oncolytics Biotech stock opened at $1.30 on Thursday. The company has a 50-day simple moving average of $1.11 and a 200-day simple moving average of $0.78. The firm has a market capitalization of $130.47 million, a P/E ratio of -4.81 and a beta of 1.19. Oncolytics Biotech has a one year low of $0.33 and a one year high of $1.53.

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

Institutional Investors Weigh In On Oncolytics Biotech

A hedge fund recently raised its stake in Oncolytics Biotech stock. Seeds Investor LLC increased its stake in Oncolytics Biotech Inc. (NASDAQ:ONCY) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,767 shares of the company’s stock after purchasing an additional 33,826 shares during the quarter. Seeds Investor LLC owned about 0.23% of Oncolytics Biotech worth $173,000 at the end of the most recent quarter. Institutional investors and hedge funds own 6.82% of the company’s stock.

About Oncolytics Biotech

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.