Oncobiologics (NASDAQ:OTLK) Upgraded at BTIG Research

Oncobiologics (NASDAQ:OTLK) was upgraded by analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued on Monday,Benzinga reports. The brokerage currently has a $4.00 target price on the stock. BTIG Research’s target price suggests a potential upside of 184.70% from the stock’s previous close.

OTLK has been the topic of several other reports. Weiss Ratings upgraded shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 24th. Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, Ascendiant Capital Markets boosted their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.67.

Oncobiologics Price Performance

OTLK stock opened at $1.41 on Monday. The business has a fifty day moving average of $1.18 and a two-hundred day moving average of $0.65. The stock has a market cap of $208.77 million, a price-to-earnings ratio of -1.20 and a beta of 0.77. Oncobiologics has a 52-week low of $0.16 and a 52-week high of $3.39.

Oncobiologics (NASDAQ:OTLK) last posted 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 the consensus estimate of $4.39 million. As a group, sell-side analysts anticipate that Oncobiologics will post -0.48 EPS for the current year.

Insider Activity

In other news, Director Ghiath M. Sukhtian bought 8,539,709 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the purchase, the director owned 22,092,068 shares in the company, valued at approximately $13,034,320.12. The trade was a 63.01% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Oncobiologics

Several institutional investors have recently bought and sold shares of OTLK. Russell Investments Group Ltd. lifted its position 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 worth $39,000 after purchasing an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Oncobiologics by 74.1% in 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 period. Finally, AQR Capital Management LLC grew its holdings in shares of Oncobiologics by 42.7% in the first 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 in the last quarter. 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.