Oncolytics Biotech (TSE:ONC) Raised to Strong-Buy at Lake Street Capital

Key Points

• Lake Street Capital has upgraded Oncolytics Biotech (TSE:ONC) to a "strong-buy" rating, indicating positive investor sentiment.
• In contrast, Jones Trading recently downgraded the stock from a "strong-buy" to a "hold" rating.
• Oncolytics Biotech shares increased by 19.7%, with recent insider buying signaling confidence in the company's future.

Lake Street Capital upgraded shares of Oncolytics Biotech (TSE:ONC - Free Report) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Separately, Jones Trading lowered shares of Oncolytics Biotech from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of C$3.50.

Oncolytics Biotech Trading Down 2.1%

ONC traded down C$0.03 during mid-day trading on Wednesday, hitting C$1.39. The stock had a trading volume of 59,445 shares, compared to its average volume of 170,128. The stock's fifty day simple moving average is C$1.27 and its 200-day simple moving average is C$0.98. The company has a debt-to-equity ratio of 11.75, a current ratio of 2.99 and a quick ratio of 8.86. The firm has a market capitalization of C$107.13 million, a price-to-earnings ratio of -3.87 and a beta of 1.35. Oncolytics Biotech has a 1-year low of C$0.44 and a 1-year high of C$2.08.

Insider Activity at Oncolytics Biotech

In related news, Senior Officer Andrew P. Aromando purchased 25,500 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were acquired at an average price of C$1.62 per share, for a total transaction of C$41,425.92. Also, Senior Officer Thomas Heineman purchased 15,000 shares of the stock in a transaction dated Thursday, July 17th. The stock was bought at an average cost of C$1.74 per share, with a total value of C$26,098.50. Over the last 90 days, insiders purchased 108,300 shares of company stock worth $178,192. 3.82% of the stock is owned by company insiders.

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.