Oncobiologics (NASDAQ:OTLK) Earns “Neutral” Rating from Chardan Capital

Oncobiologics (NASDAQ:OTLK)‘s stock had its “neutral” rating reissued by analysts at Chardan Capital in a report issued on Friday,Benzinga reports. They presently have a $3.00 price objective on the stock. Chardan Capital’s price objective would indicate a potential upside of 28.21% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Ascendiant Capital Markets cut their target price on shares of Oncobiologics from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, June 6th. Guggenheim reiterated a “buy” rating on shares of Oncobiologics in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Oncobiologics currently has an average rating of “Moderate Buy” and an average price target of $9.60.

Oncobiologics Trading Down 3.7%

OTLK opened at $2.34 on Friday. The company’s 50 day moving average is $1.94 and its 200-day moving average is $1.69. Oncobiologics has a 1-year low of $0.87 and a 1-year high of $8.32. The company has a market cap of $78.55 million, a P/E ratio of -4.11 and a beta of 0.26.

Oncobiologics (NASDAQ:OTLK) last posted its earnings results on Thursday, August 14th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The company had revenue of $1.51 million for the quarter, compared to analyst estimates of $1.66 million. On average, equities analysts forecast that Oncobiologics will post -2.27 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. raised its holdings in Oncobiologics by 34,936.7% during the 4th quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock worth $32,000 after purchasing an additional 17,119 shares during the last quarter. Jane Street Group LLC raised its holdings in Oncobiologics by 133.9% during the 4th quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock worth $50,000 after purchasing an additional 15,008 shares during the last quarter. AQR Capital Management LLC increased its stake 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. Goldman Sachs Group Inc. increased its stake 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, Renaissance Technologies LLC bought a new stake in shares of Oncobiologics in the 4th quarter valued at $246,000. Institutional investors own 11.20% of the company’s stock.

About Oncobiologics

Outlook Therapeutics, Inc, operates as a clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab product candidate that is in Phase-III clinical trial for the treatment of wet age-related macular degeneration and other retina diseases.