Chardan Capital Issues Pessimistic Forecast for Oncobiologics (NASDAQ:OTLK) Stock Price

Oncobiologics (NASDAQ:OTLK) had its price target decreased by equities research analysts at Chardan Capital from $3.00 to $1.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Chardan Capital’s price target points to a potential upside of 51.52% from the company’s current price.

Several other equities analysts also recently commented on OTLK. Ascendiant Capital Markets increased their target price on shares of Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Finally, Wall Street Zen cut Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Oncobiologics currently has an average rating of “Hold” and a consensus target price of $6.50.

Oncobiologics Stock Performance

Shares of OTLK opened at $0.66 on Monday. The firm has a market cap of $42.31 million, a PE ratio of -0.43 and a beta of 0.17. The firm’s 50 day moving average price is $1.70 and its 200 day moving average price is $1.66. Oncobiologics has a twelve month low of $0.60 and a twelve month high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, December 19th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. The business had revenue of $4.65 million for the quarter, compared to analyst estimates of $5.85 million. On average, sell-side analysts anticipate that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

Institutional Trading of Oncobiologics

Several hedge funds have recently added to or reduced their stakes in OTLK. Goldman Sachs Group Inc. grew its holdings in Oncobiologics by 74.1% in 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 last quarter. AQR Capital Management LLC boosted its position 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 acquiring an additional 25,351 shares during the period. Finally, Russell Investments Group Ltd. boosted its position 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 valued at $39,000 after acquiring an additional 21,941 shares during the period. 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.