Oncolytics Biotech (TSE:ONC) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Oncolytics Biotech Inc. (TSE:ONC) passed 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 traded.

Wall Street Analysts Forecast Growth

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

Oncolytics Biotech Stock Performance

The firm’s fifty day moving average price is C$1.41 and its 200 day moving average price is C$1.44. The firm has a market cap of C$129.12 million, a P/E ratio of -4.42 and a beta of 1.35. The company has a debt-to-equity ratio of 6.09, a quick ratio of 8.86 and a current ratio of 4.99.

Oncolytics Biotech (TSE:ONC) last issued its quarterly earnings data on Thursday, August 1st. The company reported C($0.10) EPS for the quarter, hitting analysts’ consensus estimates of C($0.10). Sell-side analysts expect that Oncolytics Biotech Inc. will post -0.41 EPS 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.