Oncobiologics, Inc. (NASDAQ:OTLK) Receives $4.65 Average Price Target from Brokerages

Oncobiologics, Inc. (NASDAQ:OTLK) has been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $4.65.

A number of analysts recently commented on the company. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price target on shares of Oncobiologics in a research note on Friday. Ascendiant Capital Markets upped their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. HC Wainwright upped their price objective on shares of Oncobiologics to $1.60 and gave the stock a “neutral” rating in a report on Monday, July 27th. Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th.

Insider Transactions at Oncobiologics

In related news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the completion of the acquisition, the director directly owned 22,092,068 shares of the company’s stock, valued at approximately $13,034,320.12. This represents a 63.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Faisal Ghiath Sukhtian purchased 95,398 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average price of $1.05 per share, for a total transaction of $100,167.90. Following the completion of the transaction, the director directly owned 220,972 shares of the company’s stock, valued at $232,020.60. This represents a 75.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 11,189,359 shares of company stock valued at $7,662,666. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Oncobiologics

A number of institutional investors and hedge funds have recently made changes to their positions in OTLK. Goldman Sachs Group Inc. lifted its holdings 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 last quarter. AQR Capital Management LLC grew its stake 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 worth $103,000 after buying an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Oncobiologics by 865.2% in 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 during the last quarter. Institutional investors own 11.20% of the company’s stock.

Oncobiologics Price Performance

OTLK opened at $0.67 on Friday. The business has a 50 day simple moving average of $1.31 and a two-hundred day simple moving average of $0.70. The firm has a market capitalization of $99.88 million, a price-to-earnings ratio of -0.87 and a beta of 0.82. Oncobiologics has a one year low of $0.16 and a one year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.97 million. As a group, sell-side analysts expect that Oncobiologics will post -0.49 EPS for the current fiscal year.

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.