Oncolytics Biotech (NASDAQ:ONCY) Rating Lowered to Hold at Zacks Investment Research

Oncolytics Biotech (NASDAQ:ONCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

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. “

Separately, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Shares of NASDAQ ONCY traded down $0.01 during trading on Tuesday, reaching $1.61. 500 shares of the company traded hands, compared to its average volume of 37,211. The firm’s 50 day moving average price is $1.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a market capitalization of $34.30 million, a PE ratio of -1.96 and a beta of 2.04. Oncolytics Biotech has a 52-week low of $1.60 and a 52-week high of $6.04.

Oncolytics Biotech (NASDAQ:ONCY) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter. As a group, equities research analysts forecast that Oncolytics Biotech will post -0.9 EPS for the current fiscal year.

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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