Oncobiologics, Inc. (NASDAQ:OTLK) Receives $6.50 Consensus Target Price from Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One 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 12-month price target among brokerages that have issued a report on the stock in the last year is $6.50.

A number of research analysts have weighed in on OTLK shares. Wall Street Zen raised shares of Oncobiologics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. BTIG Research reissued 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 research note on Wednesday, June 24th. Finally, Ascendiant Capital Markets lifted their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, June 11th.

Oncobiologics Price Performance

OTLK opened at $1.59 on Friday. The company’s 50 day simple moving average is $0.74 and its two-hundred day simple moving average is $0.69. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $3.39. The firm has a market capitalization of $236.26 million, a price-to-earnings ratio of -1.36 and a beta of 0.96.

Oncobiologics (NASDAQ:OTLK) last released its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. On average, equities analysts anticipate that Oncobiologics will post -0.48 earnings per share for the current fiscal year.

Insider Activity at Oncobiologics

In other news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of Oncobiologics stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the transaction, the director owned 22,092,068 shares in the company, valued at $13,034,320.12. This represents a 63.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Oncobiologics

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after buying an additional 44,063 shares during the period. AQR Capital Management LLC raised its position in Oncobiologics by 42.7% in the first 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 during the period. Finally, Russell Investments Group Ltd. raised its position in Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after purchasing an additional 21,941 shares during the period. Hedge funds and other institutional investors own 11.20% of the company’s stock.

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.