Analysts panning Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY)


Dallas, Texas 09/16/2013 (Financialstrend) – In a research note that was issued on Thursday, Needham & Company weighed on Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) stock. They have assigned a “buy” rating on the stock and a price-target of $8.00. This price-target is an indication that there is a potential upside of 189.86% from the previous close of this company’s stock.

Zacks analysts upgraded Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) shares from a “neutral” to an “outperform” rating on 5 August in a research note to investors. They have now assigned a price-target of $3.00 on the company’s stock. One research analyst has assigned a “hold” rating on the stock while 4 analysts have assigned a “buy” rating. Currently, the average analyst rating is a “buy” and the average target-price is $5.50.

Friday’s trading

In Friday’s trading, Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) stock rose by 4.71%. The opening price of the shares was $2.94 which rose to an intraday high of $2.95 and closed at $2.89. Approximately 0.842 million shares were traded on Friday and the average volume of shares traded over 30 days was 0.439 million. The company has a market capitalization of $244.95 million.

Oncolytics Biotech has a 52-week low of $1.60 and a 52-week high of $4.93. The stock’s 50-day moving average is $2.7 and its 200-day moving average is $2.84. The company’s market cap is $233.9 million.

Earnings results

The company last announced its earnings-result on 1 August. It reported earnings per share of $0.06 for the quarter which topped analyst estimates of $0.13, by $0.07. The average analyst prediction is that the company will post earnings per share of $-0.25 for the current financial year.

About the company

Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) is a development-stage company. It focuses on  REOLYSIN research and development. REOLYSIN is the company’s cancer therapeutic and is developed from reovirus. This particular virus has been demonstrated in those tumor cells that bear an activated Ras-pathway.