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

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have earned a consensus rating of “Moderate Buy” from the four analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $4.33.

ONCY has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Oncolytics Biotech in a report on Monday, March 10th. Royal Bank of Canada reduced their price objective on Oncolytics Biotech from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Jones Trading reiterated a “hold” rating on shares of Oncolytics Biotech in a report on Friday. Finally, Maxim Group reduced their price objective on Oncolytics Biotech from $5.00 to $3.00 and set a “buy” rating for the company in a report on Monday, March 10th.

Oncolytics Biotech Price Performance

Shares of NASDAQ:ONCY opened at $0.47 on Friday. Oncolytics Biotech has a 1-year low of $0.45 and a 1-year high of $1.53. The business has a fifty day moving average price of $0.56 and a 200-day moving average price of $0.75. The company has a market capitalization of $40.41 million, a PE ratio of -1.73 and a beta of 1.00.

Oncolytics Biotech (NASDAQ:ONCY) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. On average, sell-side analysts anticipate that Oncolytics Biotech will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vantage Point Financial LLC purchased a new position in Oncolytics Biotech in the fourth quarter worth about $27,000. National Bank of Canada FI boosted its position in Oncolytics Biotech by 199.6% in the fourth quarter. National Bank of Canada FI now owns 64,479 shares of the company’s stock worth $60,000 after purchasing an additional 42,955 shares during the last quarter. Geode Capital Management LLC boosted its position in Oncolytics Biotech by 59.6% in the fourth quarter. Geode Capital Management LLC now owns 66,939 shares of the company’s stock worth $61,000 after purchasing an additional 24,997 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Oncolytics Biotech in the fourth quarter worth about $90,000. 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.