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Thursday, 09/12/2013 11:03:24 PM

Thursday, September 12, 2013 11:03:24 PM

Post# of 1874
Needham Initiated Coverage Today - Target $8.00

http://www.streetinsider.com/Analyst+Comments/UPDATE%3A+Needham+%26+Company+Starts+Oncolytics+Biotech+(ONCY)+at+Buy,+$8+PT/8684682.html

(Updated - September 12, 2013 4:39 PM EDT)

Needham & Company initiated coverage on Oncolytics Biotech (NASDAQ: ONCY) with a Buy rating and a price target of $8.00. Analyst Chad Messer thinks valuation is "compelling."

"Oncolytics is developing Reolysin, a naturally occurring virus that is safe to humans but kills cancer cells. The company will report pivotal data in head and neck cancer this September or October, which could lead to EU approval and, along with a confirmatory study, support a US filing. We expect positive data based on an earlier interim analysis. Trading at an enterprise value of <$350 million, we find ONCY shares compelling given the potential near-term upside," said Messer.

For an analyst ratings summary and ratings history on Oncolytics Biotech click here. For more ratings news on Oncolytics Biotech click here.

Shares of Oncolytics Biotech closed at $2.82 yesterday, with a 52 week range of $1.60-$4.93.
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  • 5Y
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