Oncobiologics, Inc. (NASDAQ:OTLK) Receives $6.50 Average PT from Brokerages

Oncobiologics, Inc. (NASDAQ:OTLK) has been given an average rating of “Hold” by the six brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $6.50.

A number of brokerages recently commented on OTLK. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Ascendiant Capital Markets upped their price target on Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Chardan Capital reiterated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its stake in Oncobiologics by 865.2% in the 2nd 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. Goldman Sachs Group Inc. boosted its stake in shares of Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after acquiring an additional 44,063 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after purchasing an additional 25,351 shares in the last quarter. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Price Performance

NASDAQ OTLK opened at $0.40 on Friday. The stock has a market capitalization of $33.23 million, a price-to-earnings ratio of -0.15 and a beta of 0.11. Oncobiologics has a 1-year low of $0.38 and a 1-year high of $3.39. The business’s fifty day moving average price is $0.86 and its 200-day moving average price is $1.29.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The firm had revenue of ($1.21) million for the quarter, compared to analysts’ expectations of $3.14 million. Equities research analysts anticipate that Oncobiologics will post -2.27 EPS for the current year.

About Oncobiologics

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.