Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives $4.33 Consensus Target Price from Analysts

Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report) has been given an average rating of "Moderate Buy" by the four analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.33.

ONCY has been the topic of several recent research reports. Maxim Group cut their target price on Oncolytics Biotech from $5.00 to $3.00 and set a "buy" rating on the stock in a report on Monday, March 10th. HC Wainwright reissued a "buy" rating and issued a $5.00 price objective on shares of Oncolytics Biotech in a research report on Wednesday, May 21st. Royal Bank Of Canada lowered their price objective on Oncolytics Biotech from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Monday, March 10th. Finally, Jones Trading reissued a "hold" rating on shares of Oncolytics Biotech in a research report on Friday, May 16th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. National Bank of Canada FI increased its position in Oncolytics Biotech by 199.6% in the 4th quarter. National Bank of Canada FI now owns 64,479 shares of the company's stock valued at $60,000 after buying an additional 42,955 shares in the last quarter. Geode Capital Management LLC increased its position in Oncolytics Biotech by 59.6% in the 4th quarter. Geode Capital Management LLC now owns 66,939 shares of the company's stock valued at $61,000 after buying an additional 24,997 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Oncolytics Biotech in the 4th quarter valued at about $90,000. 6.82% of the stock is owned by institutional investors.

Oncolytics Biotech Stock Up 23.8%

ONCY traded up $0.24 during midday trading on Friday, hitting $1.25. 3,746,981 shares of the company were exchanged, compared to its average volume of 700,230. The firm has a market capitalization of $117.85 million, a P/E ratio of -4.31 and a beta of 1.07. Oncolytics Biotech has a 1-year low of $0.33 and a 1-year high of $1.53. The firm's 50 day moving average price is $0.57 and its 200-day moving average price is $0.66.

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

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.