Oncobiologics’ (OTLK) Neutral Rating Reaffirmed at HC Wainwright

Oncobiologics (NASDAQ:OTLK)‘s stock had its “neutral” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports.

OTLK has been the subject of a number of other reports. Ascendiant Capital Markets reduced their price target on shares of Oncobiologics from $21.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Guggenheim lowered shares of Oncobiologics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 28th. Chardan Capital restated a “neutral” rating and set a $3.00 price target on shares of Oncobiologics in a research report on Thursday, August 28th. Finally, Zacks Research downgraded shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.00.

Oncobiologics Price Performance

Shares of Oncobiologics stock traded up $0.03 during trading hours on Tuesday, reaching $1.09. The company had a trading volume of 1,157,151 shares, compared to its average volume of 1,635,240. Oncobiologics has a one year low of $0.79 and a one year high of $6.98. The business has a fifty day simple moving average of $1.64 and a 200 day simple moving average of $1.64. The firm has a market cap of $48.20 million, a PE ratio of -1.90 and a beta of 0.49.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.02). The firm had revenue of $1.51 million during the quarter, compared to analysts’ expectations of $1.66 million. On average, research analysts forecast that Oncobiologics will post -2.27 EPS for the current year.

Institutional Trading of Oncobiologics

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its stake in Oncobiologics by 133.9% in the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock worth $50,000 after purchasing an additional 15,008 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of 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 acquiring an additional 44,063 shares during the last quarter. AQR Capital Management LLC raised its stake 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 valued at $103,000 after acquiring an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake 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 valued at $39,000 after acquiring an additional 21,941 shares during the last quarter. 11.20% of the stock is owned by institutional investors.

About Oncobiologics

Outlook Therapeutics, Inc, operates as a clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab product candidate that is in Phase-III clinical trial for the treatment of wet age-related macular degeneration and other retina diseases.