In a report released today, Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Oncolytics Biotech, with a price target of $5.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors, primarily focusing on Oncolytics Biotech’s strategic prioritization of its pancreatic cancer program. The company has initiated discussions with the FDA to advance its lead program, pelareorep, into a pivotal study for metastatic pancreatic ductal adenocarcinoma. This decision is supported by compelling data and the high unmet need among patients with limited treatment options.
Oncolytics has outlined a clear four-pronged strategy to advance pelareorep, which includes additional data readouts, extended intellectual property protection, FDA discussions on trial design, and partnership discussions for non-dilutive funding. The management’s proactive approach, along with the potential for significant value creation from upcoming catalysts, suggests that the stock is undervalued at its current levels, justifying the Buy rating.
Trucchio covers the Healthcare sector, focusing on stocks such as uniQure, GH Research, and Sangamo Biosciences. According to TipRanks, Trucchio has an average return of 4.0% and a 38.76% success rate on recommended stocks.