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

Oncolytics Biotech Inc. (NASDAQ:ONCY) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.25.

Several research firms have issued reports on ONCY. HC Wainwright lifted their target price on Oncolytics Biotech from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncolytics Biotech in a research report on Monday, November 24th. Wall Street Zen lowered shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Lake Street Capital began coverage on shares of Oncolytics Biotech in a research note on Wednesday, August 13th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Zacks Research raised shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th.

Oncolytics Biotech Stock Performance

Shares of ONCY opened at $0.94 on Tuesday. The company has a 50 day moving average price of $1.16 and a 200-day moving average price of $0.99. Oncolytics Biotech has a fifty-two week low of $0.33 and a fifty-two week high of $1.51. The stock has a market capitalization of $94.34 million, a PE ratio of -3.48 and a beta of 1.32.

Oncolytics Biotech (NASDAQ:ONCY) last posted 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. Equities research analysts forecast that Oncolytics Biotech will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ONCY. Scientech Research LLC purchased a new stake in Oncolytics Biotech in the third quarter valued at about $25,000. Seeds Investor LLC grew its stake 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 worth $173,000 after acquiring an additional 33,826 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Oncolytics Biotech in the 3rd quarter valued at approximately $535,000. 6.82% of the stock is owned by institutional investors and hedge funds.

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.