Oncobiologics, Inc. (NASDAQ:OTLK) Given Average Rating of “Hold” by Brokerages

Oncobiologics, Inc. (NASDAQ:OTLK) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.00.

Several brokerages have recently weighed in on OTLK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncobiologics in a research report on Friday, October 31st. Ascendiant Capital Markets cut their price target on Oncobiologics from $21.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Guggenheim lowered Oncobiologics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 28th. Chardan Capital reiterated a “neutral” rating and issued a $3.00 target price on shares of Oncobiologics in a research note on Thursday, August 28th. Finally, Zacks Research lowered shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th.

Hedge Funds Weigh In On Oncobiologics

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after purchasing an additional 25,351 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 worth $126,000 after purchasing an additional 44,063 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Oncobiologics by 865.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after buying an additional 21,941 shares during the last quarter. 11.20% of the stock is owned by hedge funds and other institutional investors.

Oncobiologics Stock Up 3.2%

OTLK opened at $1.28 on Thursday. The stock’s fifty day moving average is $1.16 and its two-hundred day moving average is $1.61. The company has a market capitalization of $56.86 million, a P/E ratio of -2.25 and a beta of 0.60. Oncobiologics has a 52 week low of $0.79 and a 52 week high of $6.34.

Oncobiologics (NASDAQ:OTLK) last issued its earnings results on Thursday, August 14th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The business had revenue of $1.51 million during the quarter, compared to analyst estimates of $1.66 million. Equities analysts anticipate that Oncobiologics will post -2.27 earnings per share for the current year.

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.