Oncolytics Biotech (NASDAQ:ONCY) Releases Earnings Results, Beats Estimates By $0.02 EPS

Oncolytics Biotech (NASDAQ:ONCY) released its quarterly earnings results on Wednesday. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02, Zacks reports.

Oncolytics Biotech Trading Down 3.5%

Shares of ONCY stock traded down $0.04 during trading hours on Thursday, hitting $1.10. The company’s stock had a trading volume of 422,492 shares, compared to its average volume of 1,003,844. The business has a fifty day moving average of $1.22 and a 200-day moving average of $0.94. Oncolytics Biotech has a twelve month low of $0.33 and a twelve month high of $1.51. The stock has a market cap of $109.90 million, a price-to-earnings ratio of -4.06 and a beta of 1.32.

Analyst Ratings Changes

A number of brokerages recently commented on ONCY. Lake Street Capital initiated coverage on shares of Oncolytics Biotech in a research report on Wednesday, August 13th. They issued a “buy” rating and a $7.00 price objective for the company. Zacks Research raised Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Wall Street Zen raised shares of Oncolytics Biotech from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Oncolytics Biotech in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

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.