Oncobiologics (NASDAQ:OTLK) Stock Price Expected to Rise, HC Wainwright Analyst Says

Oncobiologics (NASDAQ:OTLK) had its price objective increased by research analysts at HC Wainwright from $0.50 to $1.60 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s price target suggests a potential upside of 42.22% from the stock’s previous close.

Several other research firms have also weighed in on OTLK. BTIG Research upgraded shares of Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Monday. Ascendiant Capital Markets boosted their target price on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Oncobiologics currently has a consensus rating of “Hold” and a consensus price target of $4.65.

Oncobiologics Price Performance

Shares of OTLK traded down $0.28 during midday trading on Monday, reaching $1.12. The stock had a trading volume of 29,425,041 shares, compared to its average volume of 12,015,615. The company has a market capitalization of $167.16 million, a P/E ratio of -0.95 and a beta of 0.77. The firm’s 50 day moving average price is $1.18 and its 200-day moving average price is $0.65. Oncobiologics has a 52 week low of $0.16 and a 52 week high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $0.13 million during the quarter, compared to analyst estimates of $4.39 million. On average, equities analysts forecast that Oncobiologics will post -0.48 earnings per share for the current year.

Insider Activity at Oncobiologics

In related news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $0.59 per share, for a total transaction of $5,038,428.31. Following the transaction, the director directly owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. This trade represents a 63.01% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Oncobiologics

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased 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 worth $39,000 after acquiring an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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 acquiring an additional 44,063 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of 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 acquiring an additional 25,351 shares in the last quarter. 11.20% of the stock is owned by hedge funds and other institutional investors.

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.