Royal Bank of Canada Cuts Oncolytics Biotech (ONC) Price Target to C$11.00
Oncolytics Biotech (TSE:ONC) had its price objective lowered by Royal Bank of Canada from C$14.00 to C$11.00 in a research note issued to investors on Tuesday, November 13th. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 274.15% from the company’s previous close.
TSE ONC traded down C$0.06 on Tuesday, hitting C$2.94. 50,600 shares of the company were exchanged, compared to its average volume of 30,411. Oncolytics Biotech has a 12 month low of C$2.82 and a 12 month high of C$10.65.
Oncolytics Biotech (TSE:ONC) last issued its earnings results on Monday, November 12th. The company reported C($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.29) by C$0.09. Equities research analysts predict that Oncolytics Biotech will post -1.01999997940694 earnings per share for the current fiscal year.
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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