In a report released on March 14, Soumit Roy from JonesTrading reiterated a Buy rating on Oncolytics Biotech (ONCY – Research Report), with a price target of C$5.00.
Soumit Roy has given his Buy rating due to a combination of factors related to Oncolytics Biotech’s promising clinical developments and strategic plans. The company is expected to provide significant updates on its clinical programs throughout 2025, which include two major developments in the second half of the year. These are the initial efficacy data from the combination of pelareorep with modified FOLFIRINOX, with or without Tecentriq, in first-line pancreatic ductal adenocarcinoma, and the initiation of a registration-enabling Phase 2 study for pelareorep combined with paclitaxel in HR+/HER2- breast cancer.
Oncolytics Biotech’s breast cancer program is particularly noteworthy, as the planned Phase 2 study aims to evaluate the efficacy of pelareorep combined with paclitaxel compared to paclitaxel alone. Previous studies, such as BRACELET-1, have shown promising results, with pelareorep and paclitaxel demonstrating a significant improvement in progression-free survival and overall survival rates compared to paclitaxel alone. These results, along with the company’s strategic focus on advancing their clinical trials, underpin Roy’s optimistic outlook and Buy rating for Oncolytics Biotech.
In another report released on March 10, Maxim Group also maintained a Buy rating on the stock with a $3.00 price target.