Oncobiologics, Inc. (NASDAQ:OTLK) Receives $6.50 Average PT from Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have received a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $4.65.

Several brokerages have issued reports on OTLK. Ascendiant Capital Markets raised their price target on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, June 11th. HC Wainwright upped their price objective on shares of Oncobiologics to $1.60 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. BTIG Research upgraded shares of Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Monday. Finally, Wall Street Zen downgraded shares of Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, July 18th.

Oncobiologics Stock Down 24.2%

Shares of NASDAQ OTLK opened at $1.06 on Tuesday. The business’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $0.66. The company has a market cap of $158.25 million, a PE ratio of -0.91 and a beta of 0.77. Oncobiologics has a twelve month low of $0.16 and a twelve month high of $3.39.

Oncobiologics (NASDAQ:OTLK) last issued its earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. As a group, research analysts anticipate that Oncobiologics will post -0.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of Oncobiologics stock in a transaction dated Thursday, May 28th. The stock was bought 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 in the company, valued at approximately $13,034,320.12. The trade was a 63.01% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oncobiologics

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after purchasing an additional 44,063 shares during the last quarter. AQR Capital Management LLC boosted its stake in 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 period. Finally, Russell Investments Group Ltd. grew its holdings in Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after buying an additional 21,941 shares in the last quarter. Institutional investors own 11.20% of the company’s stock.

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.