Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Oncolytics Biotech and keeping the price target at $5.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight Oncolytics Biotech’s promising outlook. The company is making significant strides in the development of pelareorep, an oncolytic virus, particularly in the treatment of metastatic colorectal cancer (mCRC) and other gastrointestinal tumors. The recent clinical data indicates strong efficacy and survival outcomes, with pelareorep showing potential as a backbone immunotherapy.
Additionally, the safety profile of pelareorep is favorable, with most adverse events being mild and consistent across studies, which enhances its appeal as a de-risked option in gastrointestinal oncology. The upcoming year is expected to be transformative for Oncolytics, with multiple catalysts such as regulatory feedback, trial initiations, and patent developments. These factors collectively suggest that Oncolytics is well-positioned for value creation, justifying the Buy rating and the $5 price target set by Trucchio.
In another report released on September 8, Lake Street also maintained a Buy rating on the stock with a $7.00 price target.