HC Wainwright Issues Pessimistic Forecast for Oncobiologics (NASDAQ:OTLK) Stock Price

Oncobiologics (NASDAQ:OTLK) had its price objective dropped by equities researchers at HC Wainwright from $1.00 to $0.50 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. HC Wainwright’s price target would suggest a potential downside of 28.77% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Ascendiant Capital Markets boosted their price objective on shares of Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday. Finally, Wall Street Zen upgraded Oncobiologics from a “strong sell” rating to a “hold” rating in a report on Saturday, December 20th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.38.

Oncobiologics Stock Performance

NASDAQ:OTLK opened at $0.70 on Friday. The firm has a market cap of $45.01 million, a PE ratio of -0.43 and a beta of 0.18. Oncobiologics has a fifty-two week low of $0.60 and a fifty-two week high of $3.39. The business has a 50 day moving average price of $1.72 and a 200-day moving average price of $1.66.

Oncobiologics (NASDAQ:OTLK) last issued its earnings results on Friday, December 19th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. The firm had revenue of $4.65 million during the quarter, compared to analysts’ expectations of $5.85 million. Research analysts predict that Oncobiologics will post -2.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Oncobiologics by 865.2% during 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 in the last quarter. AQR Capital Management LLC grew its position in Oncobiologics by 42.7% during 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 during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Oncobiologics by 74.1% during 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. Hedge funds and other institutional investors 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.