Oncobiologics, Inc. (NASDAQ:OTLK) Receives Consensus Rating of “Hold” from Analysts

Oncobiologics, Inc. (NASDAQ:OTLK) has been assigned an average rating of “Hold” from the six analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.00.

A number of analysts have recently commented on OTLK shares. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday. Ascendiant Capital Markets boosted their price target on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, December 22nd. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a research report on Tuesday, September 30th. Finally, Wall Street Zen raised shares of Oncobiologics from a “strong sell” rating to a “hold” rating in a research note on Saturday, December 20th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in shares of Oncobiologics by 865.2% in the second 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 period. 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 purchasing an additional 25,351 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in 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 during the period. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Price Performance

NASDAQ:OTLK opened at $1.58 on Friday. The company’s fifty day moving average price is $1.72 and its 200-day moving average price is $1.66. Oncobiologics has a 1-year low of $0.79 and a 1-year high of $3.39. The firm has a market capitalization of $101.29 million, a P/E ratio of -1.04 and a beta of 0.18.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings results on Friday, December 19th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The business had revenue of $4.65 million during the quarter, compared to analysts’ expectations of $5.85 million. Equities analysts anticipate that Oncobiologics will post -2.27 EPS 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.