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

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have earned a consensus rating of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $4.50.

A number of research analysts recently weighed in on the company. Chardan Capital reaffirmed a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Finally, Ascendiant Capital Markets reduced their price objective on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th.

Institutional Trading of Oncobiologics

Several institutional investors have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. raised its stake in shares of Oncobiologics by 865.2% in 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 raised its position in 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, Goldman Sachs Group Inc. lifted 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 acquiring an additional 44,063 shares during the period. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

Oncobiologics Price Performance

NASDAQ:OTLK opened at $0.25 on Thursday. The firm’s 50-day moving average price is $0.30 and its 200-day moving average price is $0.87. The company has a market capitalization of $25.91 million, a PE ratio of -0.09 and a beta of 0.32. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The company had revenue of ($1.21) million for the quarter, compared to the consensus estimate of $3.14 million. Equities analysts anticipate that Oncobiologics will post -0.51 EPS for the current fiscal year.

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.