Brokerages Set Oncobiologics, Inc. (NASDAQ:OTLK) PT at $7.00

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.00.

Several equities analysts have weighed in on the stock. Guggenheim lowered shares of Oncobiologics from a “buy” rating to a “neutral” rating in a report on Thursday, August 28th. Zacks Research lowered shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Ascendiant Capital Markets decreased their target price on shares of Oncobiologics from $21.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a report on Tuesday. Finally, Chardan Capital restated a “neutral” rating and issued a $3.00 price objective on shares of Oncobiologics in a report on Thursday, August 28th.

Institutional Investors Weigh In On Oncobiologics

A number of hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in Oncobiologics by 865.2% during 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. raised its holdings in shares of Oncobiologics by 74.1% in the 1st 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 in the last quarter. AQR Capital Management LLC raised its holdings in shares of Oncobiologics by 42.7% in the 1st 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 in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Oncobiologics by 133.9% in the 4th 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 in the last quarter. 11.20% of the stock is currently owned by institutional investors and hedge funds.

Oncobiologics Price Performance

OTLK stock opened at $1.06 on Wednesday. Oncobiologics has a 52 week low of $0.79 and a 52 week high of $6.98. The stock has a market capitalization of $47.09 million, a P/E ratio of -1.86 and a beta of 0.48. The firm has a 50-day simple moving average of $1.62 and a 200-day simple moving average of $1.63.

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

Oncobiologics Company Profile

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.