Canaccord Genuity analyst John Newman maintained a Buy rating on Oncolytics Biotech (ONCY) yesterday and set a price target of $7.00. The company’s shares closed last Monday at $3.26.
According to TipRanks.com, Newman is a 5-star analyst with an average return of 19.4% and a 47.0% success rate. Newman covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Hutchison China MediTech, and Allogene Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Oncolytics Biotech with a $8.51 average price target.
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Based on Oncolytics Biotech’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $9.33 million. In comparison, last year the company had a GAAP net loss of $19.4 million.
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Oncolytics Biotech, Inc. engages in the development of immuno-oncolytic virus for the treatment of solid tumors and hematological malignancies. It offers a non-pathogenic, properietary isolate of the reovirus that induce selective tumor lysis, and promotes an inflamed tumor phenotype through innate and adaptive immune responses. The company was founded by Matthew C. Coffey and Bradley George Thompson on April 2, 1998 and is headquartered in Calgary, Canada.
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