Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.25.

ONCY has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Monday. Zacks Research raised shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Wall Street Zen lowered shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, HC Wainwright lifted their target price on shares of Oncolytics Biotech from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, November 17th.

Oncolytics Biotech Trading Down 1.9%

ONCY opened at $0.95 on Friday. Oncolytics Biotech has a twelve month low of $0.33 and a twelve month high of $1.51. The firm has a market capitalization of $95.54 million, a PE ratio of -3.40 and a beta of 0.88. The firm’s 50-day moving average price is $1.04 and its 200 day moving average price is $1.06.

Oncolytics Biotech (NASDAQ:ONCY) last released its earnings results on Wednesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. As a group, analysts predict that Oncolytics Biotech will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ONCY. Scientech Research LLC acquired a new stake in Oncolytics Biotech during the third quarter worth $25,000. Citadel Advisors LLC acquired a new position in shares of Oncolytics Biotech in the 3rd quarter valued at $535,000. Finally, Seeds Investor LLC grew its holdings in shares of Oncolytics Biotech by 17.8% during the 2nd quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock worth $173,000 after purchasing an additional 33,826 shares during the period. 6.82% of the stock is currently owned by institutional investors and hedge funds.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc (NASDAQ: ONCY) is a clinical-stage biotechnology company focused on the development of novel oncolytic viral therapies for the treatment of cancer. The company’s lead investigational agent, pelareorep (Reolysin), is a proprietary formulation of reovirus engineered to selectively infect and destroy tumor cells while stimulating a systemic antitumor immune response. Oncolytics leverages the natural biology of the virus to enhance the activity of standard‐of‐care treatments and immune checkpoint inhibitors.

Pelareorep has progressed into multiple advanced clinical trials, with combination studies conducted in metastatic breast cancer, non‐small cell lung cancer and head and neck cancers.