Onconetix (NASDAQ:ONCO) Stock Breaks Above Fifty Day Moving Average – What’s Next?

Onconetix, Inc. (NASDAQ:ONCO)’s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $6.55 and traded as high as $7.82. Onconetix shares last traded at $6.95, with a volume of 705,953 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently commented on ONCO. Wall Street Zen upgraded Onconetix from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Onconetix from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

Onconetix Trading Up 26.6%

The firm has a market cap of $410,050.00, a P/E ratio of 0.00 and a beta of 2.62. The company’s 50-day moving average is $6.56 and its two-hundred day moving average is $130.26.

Onconetix (NASDAQ:ONCO) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($12.80) EPS for the quarter, topping analysts’ consensus estimates of ($45,050.00) by $45,037.20. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.02 million. Onconetix had a negative return on equity of 91.95% and a negative net margin of 1,575.89%.

About Onconetix

Onconetix, Inc is a biotechnology company focused on developing and commercializing diagnostic and therapeutic products for men’s health. The company’s portfolio is centered primarily on prostate health, with products intended to support the detection, risk assessment and treatment of prostate-related conditions.

Its lead diagnostic product is Proclarix, a blood-based test designed to help assess the risk of clinically significant prostate cancer in men with elevated prostate-specific antigen (PSA) levels.