Zacks: Oncolytics Biotech, Inc. (ONCY) Receives Consensus Rating of “Strong Buy” from Analysts

Shares of Oncolytics Biotech, Inc. (NASDAQ:ONCY) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus price target of $19.36 for the company, according to Zacks. Zacks has also given Oncolytics Biotech an industry rank of 58 out of 256 based on the ratings given to related companies.

A number of research analysts recently issued reports on the company. ValuEngine lowered Oncolytics Biotech from a “buy” rating to a “hold” rating in a report on Friday, December 21st. LADENBURG THALM/SH SH assumed coverage on Oncolytics Biotech in a report on Monday, October 1st. They issued a “buy” rating for the company. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Oncolytics Biotech in a report on Monday, November 12th.

Shares of ONCY traded up $0.06 during midday trading on Wednesday, hitting $2.11. 3,100 shares of the stock were exchanged, compared to its average volume of 114,350. The firm has a market cap of $38.72 million, a P/E ratio of -2.48 and a beta of 2.19. Oncolytics Biotech has a 52-week low of $1.64 and a 52-week high of $8.38.

Oncolytics Biotech (NASDAQ:ONCY) last released its earnings results on Monday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. Research analysts expect that Oncolytics Biotech will post -0.72 earnings per share for the current year.

An institutional investor recently bought a new position in Oncolytics Biotech stock. Millennium Management LLC purchased a new position in shares of Oncolytics Biotech, Inc. (NASDAQ:ONCY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 489,531 shares of the company’s stock, valued at approximately $2,692,000. Millennium Management LLC owned about 2.96% of Oncolytics Biotech at the end of the most recent reporting period. 1.11% of the stock is currently owned by hedge funds and other institutional investors.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc, a development stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing REOLYSIN, an immuno-oncology viral-agent that comprises three programs: chemotherapy combinations to trigger selective tumor lysis; immune modulator combinations to facilitate innate immune responses; and immuno-therapy combinations to produce adaptive immune responses.

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