Oncolytics Biotech (NASDAQ:ONCY) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Oncolytics Biotech (NASDAQ:ONCY) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Zacks.com reports. They currently have $0.75 price objective on the stock.
According to Zacks, “Oncolytics Biotech, Inc. focuses on the discovery and development of pharmaceutical products for the treatment of a wide variety of human and companion pet cancers. The Company was formed to explore the oncolytic capability of the reovirus, a virus that preferentially replicates in cells with an activated Ras pathway, one of the most common family of genetic defects leading to cancer. “
Several other analysts have also weighed in on ONCY. Roth Capital initiated coverage on Oncolytics Biotech in a report on Wednesday, September 4th. They issued a buy rating and a $7.00 price objective for the company. ValuEngine lowered Oncolytics Biotech from a buy rating to a hold rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Oncolytics Biotech has a consensus rating of Buy and a consensus price target of $3.88.
Oncolytics Biotech (NASDAQ:ONCY) last announced its earnings results on Tuesday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter. Analysts predict that Oncolytics Biotech will post -0.91 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Oncolytics Biotech stock. Verition Fund Management LLC acquired a new stake in Oncolytics Biotech, Inc. (NASDAQ:ONCY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 408,838 shares of the company’s stock, valued at approximately $695,000. Verition Fund Management LLC owned about 2.01% of Oncolytics Biotech as of its most recent SEC filing. 2.32% of the stock is currently owned by institutional investors and hedge funds.
About Oncolytics Biotech
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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