Oncobiologics, Inc. (NASDAQ:OTLK) Receives Average Rating of “Hold” from Brokerages

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have received an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $7.00.

OTLK has been the subject of several analyst reports. Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. Ascendiant Capital Markets upped their target price on shares of Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Finally, HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a report on Tuesday, September 30th.

Oncobiologics Stock Performance

OTLK stock opened at $0.53 on Friday. The firm has a 50 day moving average price of $1.67 and a 200-day moving average price of $1.64. Oncobiologics has a 52-week low of $0.50 and a 52-week high of $3.39. The firm has a market capitalization of $33.95 million, a price-to-earnings ratio of -0.35 and a beta of 0.17.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings data on Friday, December 19th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $4.65 million for the quarter, compared to the consensus estimate of $5.85 million. As a group, sell-side analysts forecast that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

Institutional Trading of Oncobiologics

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in shares of Oncobiologics by 42.7% in 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 during the last quarter. Goldman Sachs Group Inc. raised its position in Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after buying an additional 44,063 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Oncobiologics by 865.2% during the 2nd 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. Institutional investors own 11.20% of the company’s stock.

Oncobiologics Company Profile

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.