Maxim Group analyst Jason McCarthy maintained a Buy rating on Oncolytics Biotech (ONCY – Research Report) yesterday and set a price target of $3.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Oncolytics Biotech’s promising developments and strategic positioning in the oncology space. The company is advancing towards a pivotal Phase 2 study in HR+/HER2- metastatic breast cancer, which is expected to follow a regulatory path similar to Pfizer’s Ibrance, potentially leading to accelerated approval. This study, set to begin by the end of 2025, could significantly enhance the company’s market position if successful.
Additionally, Oncolytics is making strides in pancreatic cancer research through its GOBLET study, which is exploring the efficacy of pelareorep in combination with other treatments. The initial efficacy data from this study is anticipated in the first half of 2026, and positive results could pave the way for further pivotal programs. The innovative approach of using pelareorep, a reovirus that can be administered intravenously, allows for broader treatment applications across metastatic tumors, setting Oncolytics apart from competitors in the oncolytic virus space.
McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Actinium Pharmaceuticals, and Gain Therapeutics. According to TipRanks, McCarthy has an average return of -21.7% and a 26.41% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a C$5.00 price target.