Oncolytics initiated with an Outperform at Raymond James

Raymond James initiated coverage of Oncolytics with an Outperform rating and $3 price target. Oncolytics is looking to effect extraordinary change in pancreatic cancer, an area of extraordinary unmet need, the analyst tells investors in a research note. Clinically meaningful outcomes of new therapies in this area would represent a gigantic leap forward for patients, the firm adds, noting that in early clinical setting, Oncolytics has yielded compelling signals of therapeutic efficacy for their proprietary medicine, motivating the high-risk, high-reward pursuit of later-stage development.