Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Oncolytics Biotech. The associated price target remains the same with $3.00.
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Jason McCarthy has given his Buy rating due to a combination of factors tied to pelareorep’s clinical and regulatory momentum. He highlights the upcoming FDA Type C meeting to align on a potential single‑arm registrational trial in second‑line and later squamous cell anal carcinoma, a setting with no approved therapies, which could provide a capital‑efficient path to full approval.
He also notes ongoing development in colorectal cancer, where a randomized Phase 2 study is testing pelareorep in combination with standard therapy, with initial efficacy data expected by year‑end 2026. In addition, he views the broader oncolytic virus space as an important tailwind, with multiple late‑stage programs and near‑term regulatory events that, if positive, could re‑rate the entire sector and benefit Oncolytics as one of the key participants.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $5.00 price target.