Brokerages Set Oncobiologics, Inc. (NASDAQ:OTLK) Price Target at $5.20

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have been assigned a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.20.

Several equities analysts have recently issued reports on the company. BTIG Research reiterated a “buy” rating and set a $4.00 price target on shares of Oncobiologics in a research report on Friday, August 14th. HC Wainwright upped their price objective on Oncobiologics to $1.60 and gave the company a “neutral” rating in a report on Monday, July 27th. Ascendiant Capital Markets raised their target price on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th.

Insider Activity

In other Oncobiologics news, Director Ghiath Sukhtian acquired 2,525,252 shares of the stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $0.99 per share, with a total value of $2,499,999.48. Following the purchase, the director directly owned 24,617,320 shares of the company’s stock, valued at approximately $24,371,146.80. This trade represents a 11.43% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Faisal Ghiath Sukhtian acquired 95,398 shares of the stock in a transaction dated Wednesday, July 29th. The stock was acquired at an average cost of $1.05 per share, for a total transaction of $100,167.90. Following the purchase, the director directly owned 220,972 shares in the company, valued at approximately $232,020.60. The trade was a 75.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new stake in shares of Oncobiologics during the 2nd quarter valued at $27,000. Russell Investments Group Ltd. grew its holdings in shares of Oncobiologics by 865.2% in the 2nd 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 during the last quarter. AQR Capital Management LLC grew its holdings 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 worth $103,000 after acquiring an additional 25,351 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Oncobiologics by 74.1% during the first 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 period. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Price Performance

Oncobiologics stock opened at $0.66 on Wednesday. The firm has a 50 day simple moving average of $1.01 and a 200-day simple moving average of $0.73. The stock has a market capitalization of $160.68 million, a PE ratio of -0.86 and a beta of 0.74. Oncobiologics has a 12-month low of $0.16 and a 12-month high of $2.54.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.97 million. On average, analysts forecast that Oncobiologics will post -0.47 earnings per share 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.