Oncology Institute (NASDAQ:TOI) Stock Price Expected to Rise, BTIG Research Analyst Says

Key Points

• BTIG Research raised its price target on Oncology Institute to $9 from $8 and kept a buy rating, implying about 54% upside from the prior close.
• Other analysts remain mostly positive: Lake Street Capital initiated coverage with a $10 target and a buy rating, while the overall consensus is Moderate Buy with an average price target of $8.40.
• The company recently beat quarterly expectations, posting EPS of -$0.02 versus -$0.07 expected and revenue of $147.44 million versus $142.10 million expected.

Oncology Institute (NASDAQ:TOI - Get Free Report) had its price objective hoisted by research analysts at BTIG Research from $8.00 to $9.00 in a report released on Thursday, MarketBeat.com reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target indicates a potential upside of 53.98% from the company's previous close.

Several other brokerages also recently weighed in on TOI. Weiss Ratings restated a "sell (d-)" rating on shares of Oncology Institute in a research note on Monday, April 20th. B. Riley Financial raised their price objective on Oncology Institute from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Needham & Company LLC boosted their target price on Oncology Institute from $5.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Finally, Lake Street Capital assumed coverage on Oncology Institute in a research report on Monday. They set a "buy" rating and a $10.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $8.40.

Oncology Institute Stock Performance

Shares of NASDAQ:TOI traded up $0.20 during trading on Thursday, reaching $5.84. 1,109,902 shares of the stock were exchanged, compared to its average volume of 1,898,905. The firm's 50-day moving average price is $4.72 and its 200 day moving average price is $3.71. The firm has a market cap of $577.72 million, a price-to-earnings ratio of -15.80 and a beta of 0.36. Oncology Institute has a 12-month low of $2.32 and a 12-month high of $6.11.

Oncology Institute (NASDAQ:TOI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $147.44 million for the quarter, compared to analysts' expectations of $142.10 million. As a group, equities research analysts forecast that Oncology Institute will post -0.17 EPS for the current year.

Insiders Place Their Bets

In other Oncology Institute news, insider Yale Podnos sold 23,451 shares of the business's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $5.38, for a total value of $126,166.38. Following the completion of the transaction, the insider directly owned 259,527 shares of the company's stock, valued at approximately $1,396,255.26. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jorey Chernett purchased 33,500 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $4.07 per share, for a total transaction of $136,345.00. Following the transaction, the insider owned 10,567,858 shares of the company's stock, valued at $43,011,182.06. This trade represents a 0.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 98,500 shares of company stock worth $426,655 and have sold 119,170 shares worth $461,183. Corporate insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Oncology Institute

A number of hedge funds and other institutional investors have recently bought and sold shares of TOI. Kestra Advisory Services LLC acquired a new stake in shares of Oncology Institute in the fourth quarter valued at approximately $31,000. Pekin Hardy Strauss Inc. acquired a new stake in Oncology Institute in the 4th quarter valued at $36,000. R Squared Ltd acquired a new position in shares of Oncology Institute during the 4th quarter worth about $41,000. Prelude Capital Management LLC acquired a new stake in shares of Oncology Institute in the third quarter valued at about $41,000. Finally, BNP Paribas Financial Markets boosted its position in Oncology Institute by 141.0% during the third quarter. BNP Paribas Financial Markets now owns 12,119 shares of the company's stock valued at $42,000 after purchasing an additional 7,091 shares during the last quarter. Institutional investors and hedge funds own 36.86% of the company's stock.

About Oncology Institute

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.

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