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UPDATE: Bloom Burton & Co Downgrades Oncolytics Biotech to Hold on Valuation

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Bloom Burton & Co. reduced its rating on Oncolytics Biotech (NASDAQ: ONCY) from Buy to Hold.

Bloom Burton & Co commented, "We maintain our cautious outlook on the outcome of the ongoing head & neck cancer trial but are encouraged with these early data. If the trial shows a meaningful increase in PFS in either the whole patient population or a segment thereof, we believe this will provide justification to move ahead with a pivotal trial. We believe the shares are fairly valued at current levels, but note that our model assumes success only in patients with head & neck cancer with metastatic disease. If the drug is able to show positive results in other indications or used in neoadjuvant disease, then the market potential could be much greater. At this time, we prefer to maintain our cautious outlook until we see more meaningful data."

Oncolytics Biotech closed at $3.38 on Monday.

Latest Ratings for ONCY

DateFirmActionFromTo
Sep 2013NeedhamInitiates Coverage onBuy
Mar 2013Piper JaffrayInitiates Coverage onOverweight
Dec 2012Bloom Burton & Co.DowngradesBuyHold

View More Analyst Ratings for ONCY
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Posted-In: Bloom Burton & CoAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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