Analysts Set Oncolytics Biotech Inc. (NASDAQ:ONCY) PT at $4.33

Oncolytics Biotech Inc. (NASDAQ:ONCY) has been assigned a consensus rating of “Moderate Buy” from the four analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $4.33.

ONCY has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their target price on Oncolytics Biotech from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Oncolytics Biotech in a report on Wednesday, May 21st. Maxim Group cut their price target on Oncolytics Biotech from $5.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Jones Trading reaffirmed a “hold” rating on shares of Oncolytics Biotech in a report on Friday, May 16th.

Hedge Funds Weigh In On Oncolytics Biotech

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Oncolytics Biotech by 59.6% in the 4th quarter. Geode Capital Management LLC now owns 66,939 shares of the company’s stock worth $61,000 after buying an additional 24,997 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Oncolytics Biotech by 199.6% in the 4th quarter. National Bank of Canada FI now owns 64,479 shares of the company’s stock worth $60,000 after buying an additional 42,955 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Oncolytics Biotech in the 4th quarter worth approximately $90,000. Institutional investors and hedge funds own 6.82% of the company’s stock.

Oncolytics Biotech Stock Up 9.8%

Shares of NASDAQ:ONCY opened at $1.01 on Friday. The business has a 50 day moving average price of $0.56 and a 200 day moving average price of $0.66. Oncolytics Biotech has a twelve month low of $0.33 and a twelve month high of $1.53. The company has a market cap of $95.22 million, a price-to-earnings ratio of -3.48 and a beta of 1.07.

Oncolytics Biotech (NASDAQ:ONCY) last announced its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. Analysts anticipate that Oncolytics Biotech will post -0.28 EPS for the current year.

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.