Oncolytics Biotech Inc.

TSX:ONC Stock Report

Market Cap: CA$114.1m

Oncolytics Biotech Valuation

Is ONC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ONC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ONC (CA$1.4) is trading below our estimate of fair value (CA$57.9)

Significantly Below Fair Value: ONC is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ONC?

Key metric: As ONC is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ONC. This is calculated by dividing ONC's market cap by their current book value.
What is ONC's PB Ratio?
PB Ratio11.9x
BookCA$9.06m
Market CapCA$114.07m

Price to Book Ratio vs Peers

How does ONC's PB Ratio compare to its peers?

The above table shows the PB ratio for ONC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average7.1x
COV Covalon Technologies
4.9xn/aCA$109.6m
MSCL Satellos Bioscience
4.3x-15.1%CA$86.2m
MDNA Medicenna Therapeutics
5.8x60.2%CA$126.6m
EPRX Eupraxia Pharmaceuticals
13.5xn/aCA$163.9m
ONC Oncolytics Biotech
11.9x37.5%CA$114.1m

Price-To-Book vs Peers: ONC is expensive based on its Price-To-Book Ratio (11.9x) compared to the peer average (7.1x).

Price to Book Ratio vs Industry

How does ONC's PB Ratio compare vs other companies in the CA Biotechs Industry?

2 CompaniesPrice / BookEstimated GrowthMarket Cap
QPT Quest PharmaTech
0.3xn/aUS$4.23m
CURE.X Biocure Technology
0.2xn/aUS$224.11k
No more companies available in this PB range
ONC 11.9xIndustry Avg. 2.6xNo. of Companies3PB01.22.43.64.86+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ONC is expensive based on its Price-To-Book Ratio (11.9x) compared to the Canadian Biotechs industry average (1.5x).

Price to Book Ratio vs Fair Ratio

What is ONC's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ONC PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio11.9x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ONC's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ONC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$1.40
CA$6.75
+382.1%
32.5%CA$9.00CA$3.50n/a4
Nov ’25CA$1.66
CA$6.75
+306.6%
32.5%CA$9.00CA$3.50n/a4
Oct ’25CA$1.18
CA$6.75
+472.0%
32.5%CA$9.00CA$3.50n/a4
Sep ’25CA$1.28
CA$6.63
+417.6%
35.9%CA$9.00CA$3.00n/a4
Aug ’25CA$1.48
CA$6.63
+347.6%
35.9%CA$9.00CA$3.00n/a4
Jul ’25CA$1.35
CA$6.63
+390.7%
35.9%CA$9.00CA$3.00n/a4
Jun ’25CA$1.46
CA$6.63
+353.8%
35.9%CA$9.00CA$3.00n/a4
May ’25CA$1.54
CA$6.63
+330.2%
35.9%CA$9.00CA$3.00n/a4
Apr ’25CA$1.43
CA$7.83
+447.8%
16.8%CA$9.00CA$6.00n/a3
Mar ’25CA$1.51
CA$7.83
+418.8%
16.8%CA$9.00CA$6.00n/a3
Feb ’25CA$1.59
CA$7.83
+392.7%
16.8%CA$9.00CA$6.00n/a3
Jan ’25CA$1.79
CA$7.83
+337.6%
16.8%CA$9.00CA$6.00n/a3
Dec ’24CA$1.90
CA$7.83
+312.3%
16.8%CA$9.00CA$6.00n/a3
Nov ’24CA$2.23
CA$7.83
+251.3%
16.8%CA$9.00CA$6.00CA$1.663
Oct ’24CA$2.97
CA$7.83
+163.7%
16.8%CA$9.00CA$6.00CA$1.183
Sep ’24CA$3.23
CA$7.83
+142.5%
16.8%CA$9.00CA$6.00CA$1.283
Aug ’24CA$3.16
CA$7.83
+147.9%
16.8%CA$9.00CA$6.00CA$1.483
Jul ’24CA$3.49
CA$7.83
+124.5%
16.8%CA$9.00CA$6.00CA$1.353
Jun ’24CA$2.24
CA$7.83
+249.7%
16.8%CA$9.00CA$6.00CA$1.463
May ’24CA$2.15
CA$7.83
+264.3%
16.8%CA$9.00CA$6.00CA$1.543
Apr ’24CA$1.65
CA$7.83
+374.7%
16.8%CA$9.00CA$6.00CA$1.433
Mar ’24CA$2.09
CA$7.25
+246.9%
17.2%CA$8.50CA$6.00CA$1.512
Feb ’24CA$2.49
CA$7.25
+191.2%
17.2%CA$8.50CA$6.00CA$1.592
Jan ’24CA$2.22
CA$7.25
+226.6%
17.2%CA$8.50CA$6.00CA$1.792
Dec ’23CA$2.82
CA$7.25
+157.1%
17.2%CA$8.50CA$6.00CA$1.902
Nov ’23CA$1.77
CA$7.25
+309.6%
17.2%CA$8.50CA$6.00CA$2.232

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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