HC Wainwright Reaffirms “Neutral” Rating for Oncobiologics (NASDAQ:OTLK)

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

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

Oncobiologics Trading Down 0.5%

NASDAQ:OTLK traded down $0.01 on Tuesday, hitting $1.06. 1,868,609 shares of the company’s stock traded hands, compared to its average volume of 1,638,859. Oncobiologics has a 1 year low of $0.79 and a 1 year high of $6.98. The firm has a 50-day moving average price of $1.64 and a 200-day moving average price of $1.64. The company has a market cap of $46.86 million, a PE ratio of -1.85 and a beta of 0.49.

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

Institutional Trading of Oncobiologics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position 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 purchasing an additional 44,063 shares during the period. AQR Capital Management LLC increased 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 valued at $103,000 after purchasing an additional 25,351 shares during the period. Jane Street Group LLC increased its position in shares of Oncobiologics by 133.9% during the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock valued at $50,000 after purchasing an additional 15,008 shares during the period. Finally, Russell Investments Group Ltd. grew 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 acquiring an additional 21,941 shares during the period. 11.20% of the stock is currently 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.