Oncolytics Biotech (NASDAQ:ONCY) Now Covered by Analysts at Lake Street Capital

Key Points

• Lake Street Capital has initiated coverage on Oncolytics Biotech (NASDAQ: ONCY) with a "buy" rating and a price target of $7.00.
• The stock currently has an average rating of "Moderate Buy" and an average target price of $5.00 based on various analysts' reports.
• Oncolytics Biotech reported earnings of ($0.05) per share in its latest quarterly results, exceeding expectations of ($0.11).

Lake Street Capital started coverage on shares of Oncolytics Biotech (NASDAQ:ONCY - Free Report) in a research report released on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $7.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of Oncolytics Biotech in a research report on Wednesday, May 21st. Jones Trading restated a "hold" rating on shares of Oncolytics Biotech in a research report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $5.00.

Oncolytics Biotech Stock Performance

Shares of NASDAQ:ONCY traded down $0.07 during trading hours on Wednesday, hitting $1.01. 752,700 shares of the company's stock traded hands, compared to its average volume of 989,527. Oncolytics Biotech has a 52 week low of $0.33 and a 52 week high of $1.53. The company's fifty day simple moving average is $0.92 and its two-hundred day simple moving average is $0.70. The company has a market cap of $98.38 million, a price-to-earnings ratio of -3.74 and a beta of 1.09.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. On average, analysts anticipate that Oncolytics Biotech will post -0.28 EPS for the current fiscal year.

Institutional Trading of Oncolytics Biotech

A hedge fund recently raised its stake in Oncolytics Biotech stock. Geode Capital Management LLC boosted its holdings in shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) by 59.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,939 shares of the company's stock after acquiring an additional 24,997 shares during the quarter. Geode Capital Management LLC owned approximately 0.08% of Oncolytics Biotech worth $61,000 at the end of the most recent reporting period. 6.82% of the stock is currently owned by hedge funds and other institutional investors.

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.