HC Wainwright Forecasts Strong Price Appreciation for Oncolytics Biotech (NASDAQ:ONCY) Stock

Oncolytics Biotech (NASDAQ:ONCY) had its price target lifted by equities researchers at HC Wainwright from $5.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Several other brokerages have also recently weighed in on ONCY. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncolytics Biotech in a research note on Wednesday, October 8th. Lake Street Capital assumed coverage on shares of Oncolytics Biotech in a research report on Wednesday, August 13th. They issued a “buy” rating and a $7.00 target price on the stock. Zacks Research upgraded shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Wall Street Zen lowered shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Oncolytics Biotech currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.

Oncolytics Biotech Trading Down 1.9%

NASDAQ:ONCY opened at $1.03 on Monday. The company has a 50-day moving average price of $1.21 and a 200-day moving average price of $0.96. The stock has a market cap of $103.37 million, a price-to-earnings ratio of -3.81 and a beta of 1.32. Oncolytics Biotech has a 12 month low of $0.33 and a 12 month high of $1.51.

Oncolytics Biotech (NASDAQ:ONCY) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. Equities analysts forecast that Oncolytics Biotech will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Seeds Investor LLC grew its holdings in shares of Oncolytics Biotech by 17.8% during the second quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock valued at $173,000 after buying an additional 33,826 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Oncolytics Biotech during the 3rd quarter valued at $535,000. Finally, Scientech Research LLC bought a new stake in shares of Oncolytics Biotech in the 3rd quarter worth $25,000. 6.82% of the stock is owned by hedge funds and other 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.