Brokerages Set Oncolytics Biotech Inc. (NASDAQ:ONCY) Target Price at $4.33

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have been given a consensus rating of “Moderate Buy” by the four brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.33.

A number of equities analysts have recently issued reports on ONCY shares. Maxim Group cut their price objective on shares of Oncolytics Biotech from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Jones Trading reissued a “hold” rating on shares of Oncolytics Biotech in a research report on Friday, May 16th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Oncolytics Biotech in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada dropped their price target on shares of Oncolytics Biotech from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th.

Hedge Funds Weigh In On Oncolytics Biotech

Several large investors have recently added to or reduced their stakes in ONCY. National Bank of Canada FI lifted its position in shares of Oncolytics Biotech by 199.6% during 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. Geode Capital Management LLC lifted its position in shares of Oncolytics Biotech by 59.6% during 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. Finally, Virtu Financial LLC bought a new position in shares of Oncolytics Biotech during the 4th quarter worth approximately $90,000. Institutional investors own 6.82% of the company’s stock.

Oncolytics Biotech Price Performance

ONCY stock opened at $1.01 on Friday. The stock has a market capitalization of $95.22 million, a PE ratio of -3.48 and a beta of 1.07. The company’s 50-day moving average is $0.56 and its 200-day moving average is $0.66. Oncolytics Biotech has a 1 year low of $0.33 and a 1 year high of $1.53.

Oncolytics Biotech (NASDAQ:ONCY) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. On average, analysts anticipate that Oncolytics Biotech will post -0.28 earnings per share for the current fiscal 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.