Oncobiologics, Inc. (NASDAQ:OTLK) Receives $4.50 Average Target Price from Brokerages

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $4.50.

Several research analysts recently weighed in on OTLK shares. BTIG Research reissued a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th. Ascendiant Capital Markets lowered their price target 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. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. Finally, Chardan Capital restated a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th.

Oncobiologics Price Performance

OTLK opened at $0.78 on Monday. The stock has a market cap of $108.78 million, a P/E ratio of -0.66 and a beta of 0.96. The stock’s 50 day simple moving average is $0.34 and its 200 day simple moving average is $0.76. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $4.39 million. Research analysts expect that Oncobiologics will post -0.51 EPS for the current fiscal year.

Insider Activity

In other Oncobiologics news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were acquired at an average price 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 $13,034,320.12. This trade represents a 63.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oncobiologics

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in Oncobiologics by 865.2% during the second 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 during the last quarter. AQR Capital Management LLC boosted 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 during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake 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 valued at $126,000 after buying an additional 44,063 shares during the period. 11.20% of the stock is owned by institutional investors and hedge funds.

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.