Zacks: Brokerages Anticipate Oncolytics Biotech Inc. (NASDAQ:ONCY) Will Announce Earnings of -$0.15 Per Share

Equities research analysts expect Oncolytics Biotech Inc. (NASDAQ:ONCY) to post earnings of ($0.15) per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Oncolytics Biotech’s earnings. Oncolytics Biotech posted earnings of ($0.12) per share in the same quarter last year, which would indicate a negative year over year growth rate of 25%. The business is expected to issue its next earnings results on Wednesday, November 10th.

On average, analysts expect that Oncolytics Biotech will report full year earnings of ($0.39) per share for the current fiscal year, with EPS estimates ranging from ($0.48) to ($0.29). For the next financial year, analysts forecast that the business will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.66) to ($0.31). Zacks’ EPS averages are an average based on a survey of research analysts that follow Oncolytics Biotech.

ONCY has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Oncolytics Biotech in a research report on Monday, August 16th. Zacks Investment Research cut Oncolytics Biotech from a “buy” rating to a “hold” rating in a report on Friday, September 10th.

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Resource Council purchased a new stake in Oncolytics Biotech during the second quarter valued at about $280,000. Royal Bank of Canada lifted its stake in shares of Oncolytics Biotech by 33.9% in the 2nd quarter. Royal Bank of Canada now owns 36,652 shares of the company’s stock valued at $102,000 after purchasing an additional 9,271 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Oncolytics Biotech during the 2nd quarter worth about $64,000. JPMorgan Chase & Co. increased its position in Oncolytics Biotech by 167.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 150,673 shares of the company’s stock worth $919,000 after purchasing an additional 94,390 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Oncolytics Biotech by 40.1% in the second quarter. Bank of Montreal Can now owns 16,460 shares of the company’s stock valued at $46,000 after buying an additional 4,711 shares during the period. 1.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of ONCY opened at $2.07 on Friday. Oncolytics Biotech has a fifty-two week low of $1.56 and a fifty-two week high of $4.83. The company has a market capitalization of $113.77 million, a PE ratio of -4.22 and a beta of 2.72. The stock has a fifty day moving average of $2.28 and a two-hundred day moving average of $2.81.

About Oncolytics Biotech

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.

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