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

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

Oncolytics Biotech Stock Down 4.3%

Oncolytics Biotech stock traded down $0.05 during midday trading on Thursday, reaching $1.09. The stock had a trading volume of 368,255 shares, compared to its average volume of 1,003,670. The firm has a market capitalization of $108.99 million, a PE ratio of -4.02 and a beta of 1.32. Oncolytics Biotech has a 12 month low of $0.33 and a 12 month high of $1.51. The firm’s 50-day moving average price is $1.22 and its 200 day moving average price is $0.94.

Wall Street Analysts Forecast Growth

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