HC Wainwright Reaffirms Neutral Rating for Oncobiologics (NASDAQ:OTLK)

Oncobiologics (NASDAQ:OTLK)‘s stock had its “neutral” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Guggenheim lowered shares of Oncobiologics from a “buy” rating to a “neutral” rating in a research note on Thursday. Ascendiant Capital Markets decreased their price target on shares of Oncobiologics from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, June 6th. Finally, Chardan Capital restated a “neutral” rating and set a $3.00 price target on shares of Oncobiologics in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.60.

Oncobiologics Trading Down 21.9%

Shares of OTLK stock opened at $0.85 on Friday. The firm has a market capitalization of $37.81 million, a PE ratio of -1.49 and a beta of 0.26. The firm has a fifty day simple moving average of $2.04 and a two-hundred day simple moving average of $1.72. Oncobiologics has a 12 month low of $0.79 and a 12 month high of $8.32.

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

Institutional Trading of Oncobiologics

Several institutional investors have recently made changes to their positions in OTLK. Jane Street Group LLC grew its position in Oncobiologics by 133.9% during the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock valued at $50,000 after buying an additional 15,008 shares during the period. Russell Investments Group Ltd. grew its position in Oncobiologics by 865.2% during the second 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 during the period. AQR Capital Management LLC grew its position in Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after buying an additional 25,351 shares during the period. Goldman Sachs Group Inc. grew its position in Oncobiologics by 74.1% during the first 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 period. Finally, Renaissance Technologies LLC bought a new position in Oncobiologics during the fourth quarter valued at about $246,000. Institutional investors own 11.20% of the company’s stock.

Oncobiologics Company Profile

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.