Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Oncolytics Biotech Inc. has received a consensus recommendation of "Moderate Buy" from five analysts, with four buy ratings and a hold rating.
• The average 1-year target price for Oncolytics Biotech stock is $5.00, with Lake Street Capital setting a more optimistic target of $7.00.
• Geode Capital Management recently increased its stake in Oncolytics Biotech by 59.6%, highlighting growing institutional interest in the company.

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $5.00.

A number of equities research analysts have issued reports on ONCY shares. 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. Wall Street Zen upgraded Oncolytics Biotech from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Lake Street Capital started coverage on Oncolytics Biotech in a research report on Wednesday, August 13th. They set a "buy" rating and a $7.00 price objective on the stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Oncolytics Biotech stock. Geode Capital Management LLC increased its position in 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 Securities & Exchange Commission. The institutional investor owned 66,939 shares of the company's stock after purchasing an additional 24,997 shares during the quarter. Geode Capital Management LLC owned approximately 0.08% of Oncolytics Biotech worth $61,000 as of its most recent SEC filing. 6.82% of the stock is currently owned by institutional investors.

Oncolytics Biotech Trading Down 0.5%

Shares of NASDAQ:ONCY traded down $0.01 during mid-day trading on Friday, reaching $1.06. The stock had a trading volume of 946,201 shares, compared to its average volume of 968,027. The company has a market cap of $105.88 million, a P/E ratio of -3.94 and a beta of 1.09. Oncolytics Biotech has a 1 year low of $0.33 and a 1 year high of $1.53. The business's 50 day moving average price is $0.99 and its 200 day moving average price is $0.71.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.06. 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.