Oncolytics Biotech (NASDAQ:ONCY) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Oncolytics Biotech (NASDAQ:ONCY) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $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. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Oncolytics Biotech from a buy rating to a hold rating in a report on Wednesday, September 4th. Roth Capital started coverage on Oncolytics Biotech in a report on Wednesday, September 4th. 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 issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $3.88.
Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.19) earnings per share (EPS) for the quarter. As a group, analysts anticipate 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 bought a new stake in Oncolytics Biotech, Inc. (NASDAQ:ONCY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 408,838 shares of the company’s stock, valued at approximately $695,000. Verition Fund Management LLC owned about 2.01% of Oncolytics Biotech at the end of the most recent quarter. 2.32% of the stock is currently owned by institutional investors.
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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