Oncolytics Biotech (NASDAQ:ONCY) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Oncolytics Biotech reported quarterly earnings of ($0.05) per share, surpassing the expected ($0.11) by $0.06.
• The stock currently has a market cap of $83.62 million and a consensus target price of $4.33.
• Analysts have a mixed outlook with one hold rating and three buy ratings, while HC Wainwright has set a price objective of $5.00 for the shares.

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

Oncolytics Biotech Trading Down 7.8%

NASDAQ:ONCY traded down $0.08 during trading hours on Thursday, hitting $0.94. The company's stock had a trading volume of 690,937 shares, compared to its average volume of 914,715. Oncolytics Biotech has a 52-week low of $0.33 and a 52-week high of $1.53. The stock has a market capitalization of $91.59 million, a P/E ratio of -3.48 and a beta of 1.09. The stock has a fifty day moving average of $0.90 and a 200-day moving average of $0.70.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. HC Wainwright restated a "buy" rating and set a $5.00 price target on shares of Oncolytics Biotech in a research note on Wednesday, May 21st. Jones Trading reaffirmed a "hold" rating on shares of Oncolytics Biotech in a research report on Friday, May 16th. Finally, Lake Street Capital assumed coverage on Oncolytics Biotech in a research report on Wednesday. They set a "buy" rating and a $7.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

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.