Oncobiologics, Inc. (NASDAQ:OTLK) Stock Has Consensus Price Target of $5.20 According to Brokerages

Oncobiologics, Inc. (NASDAQ:OTLK) has earned a consensus recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.20.

OTLK has been the topic of several recent research reports. BTIG Research reiterated a “buy” rating and issued a $4.00 price objective on shares of Oncobiologics in a research note on Friday, August 14th. Wall Street Zen lowered shares of Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. HC Wainwright boosted their target price on shares of Oncobiologics to $1.60 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th.

Insider Buying and Selling at Oncobiologics

In other Oncobiologics news, Director Ghiath Sukhtian purchased 2,525,252 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $0.99 per share, for a total transaction of $2,499,999.48. Following the purchase, the director directly owned 24,617,320 shares of the company’s stock, valued at $24,371,146.80. The trade was a 11.43% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Faisal Ghiath Sukhtian acquired 95,398 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $1.05 per share, with a total value of $100,167.90. Following the transaction, the director owned 220,972 shares in the company, valued at approximately $232,020.60. This trade represents a 75.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Oncobiologics

An institutional investor recently bought a new stake in Oncobiologics stock. NewEdge Advisors LLC bought a new stake in shares of Oncobiologics, Inc. (NASDAQ:OTLK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,722 shares of the company’s stock, valued at approximately $27,000. 11.20% of the stock is owned by institutional investors and hedge funds.

Oncobiologics Stock Performance

Oncobiologics stock opened at $0.60 on Friday. The stock has a market cap of $145.80 million, a PE ratio of -0.78 and a beta of 0.66. Oncobiologics has a one year low of $0.16 and a one year high of $2.54. The stock has a fifty day moving average of $0.71 and a 200 day moving average of $0.76.

Oncobiologics (NASDAQ:OTLK) last posted its earnings results on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.97 million. As a group, sell-side analysts predict that Oncobiologics will post -0.45 EPS for the current fiscal year.

Oncobiologics Company Profile

Oncobiologics, Inc is a biopharmaceutical company that changed its name to Outlook Therapeutics, Inc The company focuses on developing and commercializing ophthalmic therapies for eye diseases, with an emphasis on treatments that address significant unmet medical needs.

Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab developed under the brand name LYTENAVA (bevacizumab-vikg). The product is intended for intravitreal use in retinal diseases, including neovascular age-related macular degeneration, diabetic macular edema and retinal vein occlusion.