Analysts Set Oncobiologics, Inc. (NASDAQ:OTLK) Price Target at $6.50

Oncobiologics, Inc. (NASDAQ:OTLK) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $6.50.

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. BTIG Research restated a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Finally, Ascendiant Capital Markets upped their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th.

Insider Activity at Oncobiologics

In other news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the transaction, the director directly owned 22,092,068 shares of the company’s stock, valued at approximately $13,034,320.12. This trade represents a 63.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Oncobiologics

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position 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 valued at $126,000 after acquiring an additional 44,063 shares in the last quarter. 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. Finally, Russell Investments Group Ltd. grew its position in shares of 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 purchasing an additional 21,941 shares in the last quarter. 11.20% of the stock is owned by institutional investors.

Oncobiologics Stock Performance

NASDAQ OTLK opened at $1.32 on Tuesday. The business’s fifty day moving average is $1.15 and its 200 day moving average is $0.65. Oncobiologics has a fifty-two week low of $0.16 and a fifty-two week high of $3.39. The company has a market capitalization of $196.14 million, a PE ratio of -1.13 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to analyst estimates of $4.39 million. On average, sell-side analysts forecast that Oncobiologics will post -0.48 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.