Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Oncolytics Biotech. The associated price target remains the same with $5.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Patrick Trucchio has given his Buy rating due to a combination of factors surrounding Oncolytics Biotech’s advancement in cancer treatment. The company’s lead program, pelareorep, is moving towards a pivotal trial for metastatic pancreatic ductal adenocarcinoma (mPDAC), backed by promising survival data and strong support from key opinion leaders. The upcoming year is expected to be transformative for Oncolytics, with significant regulatory milestones and trial developments anticipated.
Oncolytics has demonstrated compelling data from studies involving pelareorep combined with chemotherapy, showing a notable improvement in survival rates compared to historical benchmarks. The company’s strategic focus on mPDAC, coupled with a well-tolerated safety profile and positive translational findings, positions pelareorep as a potential cornerstone therapy in this high-need area. The absence of approved immunotherapies in the first-line mPDAC setting further enhances the potential impact of Oncolytics’ approach, supported by endorsements from experts in the field.
According to TipRanks, Trucchio is a 4-star analyst with an average return of 4.4% and a 37.32% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as Oncolytics Biotech, Sangamo Biosciences, and uniQure.
In another report released yesterday, Maxim Group also maintained a Buy rating on the stock with a $3.00 price target.