Ascendiant Capital Markets Issues Positive Forecast for Oncobiologics (NASDAQ:OTLK) Stock Price

Oncobiologics (NASDAQ:OTLK) had its target price lifted by Ascendiant Capital Markets from $8.00 to $10.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on OTLK. Chardan Capital reissued a “neutral” rating and issued a $3.00 price objective on shares of Oncobiologics in a research note on Thursday, August 28th. Wall Street Zen raised shares of Oncobiologics from a “strong sell” rating to a “hold” rating in a report on Saturday. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Zacks Research cut shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncobiologics in a research report on Monday, December 8th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Oncobiologics currently has a consensus rating of “Hold” and an average price target of $7.00.

Oncobiologics Trading Down 8.5%

Oncobiologics stock opened at $1.84 on Monday. Oncobiologics has a twelve month low of $0.79 and a twelve month high of $3.39. The stock has a 50 day moving average of $1.65 and a two-hundred day moving average of $1.66. The stock has a market capitalization of $81.73 million, a price-to-earnings ratio of -1.21 and a beta of 0.17.

Oncobiologics (NASDAQ:OTLK) last released its earnings results on Friday, December 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $4.65 million during the quarter, compared to analyst estimates of $5.85 million. Equities analysts predict that Oncobiologics will post -2.27 earnings per share for the current year.

Institutional Trading of Oncobiologics

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its stake in shares of 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 purchasing an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 buying an additional 44,063 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Oncobiologics by 42.7% during the 1st 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 last quarter. 11.20% of the stock is currently owned by institutional investors and hedge funds.

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.