Oncobiologics (NASDAQ:OTLK) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Oncobiologics (NASDAQ:OTLK) announced its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05), FiscalAI reports. The firm had revenue of ($1.21) million for the quarter, compared to the consensus estimate of $3.14 million.

Oncobiologics Price Performance

Shares of OTLK traded down $0.07 during midday trading on Tuesday, reaching $0.42. The stock had a trading volume of 2,255,451 shares, compared to its average volume of 7,485,494. The company has a market capitalization of $31.04 million, a P/E ratio of -0.28 and a beta of 0.11. The firm’s 50 day moving average price is $1.03 and its 200-day moving average price is $1.34. Oncobiologics has a 52 week low of $0.38 and a 52 week high of $3.39.

Analyst Ratings Changes

A number of research analysts have issued reports on OTLK shares. Ascendiant Capital Markets boosted their target price on shares of Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. Finally, Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.33.

Institutional Investors Weigh In On Oncobiologics

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in shares of Oncobiologics by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after purchasing an additional 25,351 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Oncobiologics by 74.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after purchasing an additional 44,063 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after buying an additional 21,941 shares in the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

Oncobiologics Company Profile

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics’ research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.