Oncolytics Biotech Inc. (NASDAQ:ONCY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.25.

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

Institutional Investors Weigh In On Oncolytics Biotech

A number of hedge funds have recently added to or reduced their stakes in ONCY. Seeds Investor LLC boosted its position in Oncolytics Biotech by 17.8% in the 2nd 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 period. Citadel Advisors LLC purchased a new stake in shares of Oncolytics Biotech during the third quarter worth $535,000. Finally, Scientech Research LLC acquired a new stake in shares of Oncolytics Biotech in the third quarter valued at $25,000. 6.82% of the stock is currently owned by institutional investors and hedge funds.

Oncolytics Biotech Stock Performance

Oncolytics Biotech stock opened at $0.95 on Friday. The company’s 50 day simple moving average is $1.04 and its 200-day simple moving average is $1.06. The company has a market capitalization of $95.54 million, a price-to-earnings ratio of -3.40 and a beta of 0.88. Oncolytics Biotech has a 1 year low of $0.33 and a 1 year high of $1.51.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings data 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 analysts expect that Oncolytics Biotech will post -0.28 earnings per share for the current year.

About Oncolytics Biotech

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.