Oncolytics price target lowered to $5 from $15 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Oncolytics to $5 from $15 and keeps a Buy rating on the shares. The analyst says pelareorep demonstrated encouraging efficacy in anal cancer, while the company’s clinical development path in pancreatic cancer shifts. The target drop reflects an increase in estimated expenses related to pela’s clinical development and a potential launch in 2027, the analyst tells investors in a research note.