Oncobiologics (NASDAQ:OTLK) Releases Earnings Results, Misses Estimates By $0.04 EPS

Oncobiologics (NASDAQ:OTLK) issued its quarterly earnings results on Friday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04), Zacks reports. The firm had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million.

Oncobiologics Stock Down 2.2%

Shares of OTLK stock traded down $0.01 on Friday, reaching $0.23. The stock had a trading volume of 2,550,914 shares, compared to its average volume of 5,062,335. Oncobiologics has a 12 month low of $0.16 and a 12 month high of $3.39. The firm has a market capitalization of $27.57 million, a price-to-earnings ratio of -0.19 and a beta of 0.32. The firm’s 50-day moving average is $0.28 and its two-hundred day moving average is $0.84.

Wall Street Analyst Weigh In

OTLK has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Ascendiant Capital Markets lowered their target price on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Chardan Capital reaffirmed a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew 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 worth $126,000 after purchasing an additional 44,063 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Oncobiologics by 42.7% during the 1st 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 in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of 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 purchasing an additional 21,941 shares in the last quarter. Institutional investors and hedge funds 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.