Raymond James Has Negative Estimate for ONCY FY2024 Earnings

Oncolytics Biotech Inc. (NASDAQ:ONCY) – Raymond James cut their FY2024 earnings per share (EPS) estimates for shares of Oncolytics Biotech in a report issued on Tuesday, November 12th. Raymond James analyst R. Sarugaser now expects that the company will post earnings of ($0.32) per share for the year, down from their previous estimate of ($0.28). Raymond James has a “Moderate Buy” rating on the stock. The consensus estimate for Oncolytics Biotech’s current full-year earnings is ($0.29) per share. Raymond James also issued estimates for Oncolytics Biotech’s Q4 2024 earnings at ($0.09) EPS, Q1 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.34) EPS.

Several other research firms also recently commented on ONCY. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Oncolytics Biotech in a research note on Thursday. Leede Financial cut shares of Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday.

Oncolytics Biotech Price Performance

NASDAQ ONCY opened at $0.98 on Friday. The stock’s 50 day simple moving average is $1.09 and its 200-day simple moving average is $1.06. The company has a market cap of $75.53 million, a PE ratio of -3.63 and a beta of 1.69. Oncolytics Biotech has a 1-year low of $0.84 and a 1-year high of $1.75.

Institutional Investors Weigh In On Oncolytics Biotech

An institutional investor recently bought a new position in Oncolytics Biotech stock. Virtu Financial LLC acquired a new position in shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,889 shares of the company’s stock, valued at approximately $55,000. Virtu Financial LLC owned about 0.07% of Oncolytics Biotech as of its most recent filing with the Securities and Exchange Commission (SEC). 6.82% of the stock is currently owned by hedge funds and other institutional investors.

Oncolytics Biotech Company Profile

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.