Piper Jaffray Companies Cuts OncoSec Medical (ONCS) Price Target to $3.00

OncoSec Medical (NASDAQ:ONCS) had its price objective cut by equities researchers at Piper Jaffray Companies from $5.00 to $3.00 in a report released on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 248.84% from the company’s current price.

Several other equities analysts also recently commented on ONCS. HC Wainwright set a $4.00 target price on OncoSec Medical and gave the company a “buy” rating in a research report on Monday, October 22nd. Dawson James reiterated a “buy” rating on shares of OncoSec Medical in a research report on Monday, July 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $4.00.

OncoSec Medical stock opened at $0.86 on Tuesday. The stock has a market capitalization of $51.72 million, a price-to-earnings ratio of -0.81 and a beta of 2.28. OncoSec Medical has a 12 month low of $0.68 and a 12 month high of $2.95.

A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its position in shares of OncoSec Medical by 2,073.8% during the first quarter. Millennium Management LLC now owns 1,000,576 shares of the biotechnology company’s stock worth $1,881,000 after acquiring an additional 954,547 shares during the last quarter. BlackRock Inc. raised its position in shares of OncoSec Medical by 1,303.5% during the second quarter. BlackRock Inc. now owns 238,940 shares of the biotechnology company’s stock worth $330,000 after acquiring an additional 221,916 shares during the last quarter. DRW Securities LLC raised its position in shares of OncoSec Medical by 157.1% during the second quarter. DRW Securities LLC now owns 180,000 shares of the biotechnology company’s stock worth $248,000 after acquiring an additional 110,000 shares during the last quarter. Nexthera Capital LP raised its position in shares of OncoSec Medical by 26.6% during the second quarter. Nexthera Capital LP now owns 2,614,297 shares of the biotechnology company’s stock worth $3,608,000 after acquiring an additional 550,000 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in shares of OncoSec Medical during the second quarter worth about $414,000. Hedge funds and other institutional investors own 23.13% of the company’s stock.

OncoSec Medical Company Profile

OncoSec Medical Incorporated, a biotechnology company, engages in developing DNA-based intratumoral immunotherapies in the United States. The company's investigational technology, ImmunoPulseis designed to enhance the local delivery and uptake of DNA-based immune-targeting agents, such as plasmid encoded IL-12 (tavokinogene telseplasmid or tavo) for the treatment of cancer.

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