Oncolytics Biotech (TSE:ONC) Share Price Passes Above 200 Day Moving Average – What’s Next?

Oncolytics Biotech Inc. (TSE:ONC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$1.44 and traded as high as C$1.74. Oncolytics Biotech shares last traded at C$1.68, with a volume of 175,570 shares changing hands.

Wall Street Analyst Weigh In

Separately, Raymond James upped their price target on Oncolytics Biotech from C$3.00 to C$3.50 in a report on Friday, September 20th.

Oncolytics Biotech Stock Down 1.7 %

The company has a current ratio of 4.99, a quick ratio of 8.86 and a debt-to-equity ratio of 6.09. The firm has a market capitalization of C$130.66 million, a P/E ratio of -4.47 and a beta of 1.35. The stock’s 50-day simple moving average is C$1.42 and its 200-day simple moving average is C$1.44.

Oncolytics Biotech (TSE:ONC) last posted its quarterly earnings data on Thursday, August 1st. The company reported C($0.10) earnings per share for the quarter, hitting the consensus estimate of C($0.10). As a group, research analysts predict that Oncolytics Biotech Inc. will post -0.41 earnings per share for the current fiscal year.

About Oncolytics Biotech

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.