H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Oncolytics Biotech today and set a price target of $10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight the potential of Oncolytics Biotech’s pelareorep (pela) in addressing unmet needs in oncology, particularly in hard-to-treat colorectal cancer (mCRC). The decision to advance pela into a self-sponsored randomized trial in KRAS-mutant metastatic colorectal cancer reflects Oncolytics’ confidence in its efficacy based on strong clinical and translational data, including its ability to outperform current treatment standards.
Furthermore, data from earlier trials demonstrated impressive response rates, progression-free survival, and overall survival in KRAS-mutant MSS mCRC patients compared to historical benchmarks. Translational findings also suggest immune activation and tumor sensitization to immunotherapy, positioning pela as a promising candidate for improving outcomes in MSS mCRC, a population largely resistant to existing therapies. With multiple upcoming trials planned and the substantial commercial opportunity for pela, Trucchio believes the stock is poised for significant value creation, reinforcing his $10 price target.
In another report released today, Lake Street also maintained a Buy rating on the stock with a $7.00 price target.