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

Oncobiologics, Inc. (NASDAQ:OTLK) has earned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.3333.

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a research report on Tuesday, September 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. Finally, Ascendiant Capital Markets lifted their target price on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, December 22nd.

Oncobiologics Price Performance

Shares of Oncobiologics stock opened at $0.51 on Tuesday. The stock has a market cap of $32.56 million, a price-to-earnings ratio of -0.33 and a beta of 0.17. The firm’s 50-day moving average is $1.45 and its two-hundred day moving average is $1.52. Oncobiologics has a 1 year low of $0.49 and a 1 year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, December 19th. The company reported ($0.22) earnings per share for the quarter, topping 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. On average, equities analysts expect that Oncobiologics will post -2.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OTLK. Russell Investments Group Ltd. raised its stake in Oncobiologics by 865.2% in the 2nd 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 last quarter. Goldman Sachs Group Inc. raised its stake in shares of Oncobiologics by 74.1% in the first 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 last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Oncobiologics by 42.7% in 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 during the last quarter. Institutional investors own 11.20% of the company’s stock.

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.