H.C. Wainwright maintains $5 target on Oncolytics Biotech stock
Investing.com
Published Feb 03, 2025 07:38AM ET
On Monday, H.C. Wainwright reaffirmed a Buy rating on Oncolytics Biotech (NASDAQ:ONCY) shares with a steady price target of $5.00. The stock, currently trading at $0.73 and near its 52-week low, shows potential upside according to InvestingPro Fair Value calculations. Notably, analysts maintain a high price target of $4.73, despite the company's recent stock performance showing a -36.61% return over the past year. The firm's analyst, Pat Trucchio, highlighted the recent meeting with Oncolytics' executives, including CFO Kirk Look, CMO Thomas Heineman, and head of IR Jon Patton, which took place on January 14. The discussion focused on the latest advancements in the company's leading program, pelareorep, an oncolytic virus immunotherapy.
The management team underscored their dedication to advancing pelareorep in two primary cancer indications: hormone receptor-positive, HER2-negative metastatic breast cancer (HR+/HER2- mBC) and metastatic pancreatic ductal adenocarcinoma (mPDAC). The positive Phase 2 data in these areas, combined with regulatory alignment, suggest that pelareorep could be heading towards registration-enabling trials in 2025. With a market capitalization of $56 million and a strong liquidity position (current ratio of 2.99), the company appears well-positioned to pursue its clinical development goals. For deeper insights into Oncolytics' financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro .
Trucchio expressed optimism about the company's direction, indicating that these developments support the belief that Oncolytics Biotech is approaching a critical turning point. The analyst's reiterated Buy rating and price target reflect confidence in the potential of pelareorep to advance through the clinical trial process and eventually reach the market.
The company's focus on HR+/HER2- mBC and mPDAC is strategic, as these are areas with significant unmet medical needs and potential for a new therapeutic option to make a meaningful impact. Pelareorep's mechanism of action as an oncolytic virus immunotherapy offers a novel approach to cancer treatment, potentially improving outcomes for patients with these types of cancer.
Oncolytics Biotech's commitment to progressing its lead program is a sign of the company's dedication to innovation in the field of oncology. With the anticipation of registration-enabling trials in the near future, Oncolytics is poised to potentially bring a new cancer therapy to patients in need. The company's beta of 1.56 suggests higher volatility than the market average, typical for clinical-stage biotech companies. InvestingPro subscribers can access 12 additional ProTips and extensive financial metrics to better evaluate the investment potential of this emerging biotech company.
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In other recent news, Oncolytics Biotech Inc. presented encouraging results for its primary immunotherapeutic agent, pelareorep, during its Third Quarter 2024 Earnings Call. The biotech firm detailed plans for swift approval in treating HR+/HER2- metastatic breast cancer and pancreatic cancer, highlighting significant enhancements in progression-free and overall survival rates from the BRACELET-1 study. Oncolytics Biotech has planned two potential registrational studies for 2025 and aims to achieve annual sales of $2.4 billion by 2033, targeting a considerable patient population in the U.S. The company's financial position remains robust with $19.6 million in cash reserves as of September 30, 2024, despite a reported net loss of $9.5 million for Q3 2024. The firm is optimistic about advancing pelareorep toward registration and anticipates accelerated approval by 2027. In the backdrop of these developments, Oncolytics Biotech continues its business development efforts, which include discussions around partnerships for pelareorep.
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Written By: Investing.com
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