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.

Shares of ONCY stock traded down $0.01 during mid-day trading on Thursday, hitting $0.64. 5,700 shares of the company’s stock were exchanged, compared to its average volume of 361,012. Oncolytics Biotech has a fifty-two week low of $0.53 and a fifty-two week high of $5.12. The stock has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $1.58. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.08. The stock has a market cap of $17.64 million, a price-to-earnings ratio of -0.78 and a beta of 2.23.

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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