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 including Oncolytics Biotech’s strategic shift towards advancing pelareorep (pela) into a potential registration study for first-line metastatic pancreatic cancer (1L mPDAC). This decision is based on promising data from previous trials, which showed significant improvement in response rates and overall survival compared to standard treatments. The ongoing discussions with the FDA and the expected regulatory update by the end of the third quarter of 2025 are pivotal, as a positive outcome could facilitate the initiation of start-up activities for the registration study.
Furthermore, Oncolytics’ decision to delist from the Toronto Stock Exchange while maintaining its Nasdaq listing aligns with its focus on the US market and investor base. The intravenous delivery method of pelareorep, which allows access to all tumor sites, differentiates it from other oncolytic viruses and enhances its potential effectiveness against metastatic tumors. These strategic moves and the potential for regulatory approval position Oncolytics favorably for future growth, supporting McCarthy’s Buy rating.
In another report released on August 8, RBC Capital also maintained a Buy rating on the stock with a C$3.50 price target.
ONCY’s price has also changed moderately for the past six months – from $0.755 to $0.867, which is a 14.83% increase.