Oncobiologics (NASDAQ:OTLK) Receives Neutral Rating from HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Oncobiologics (NASDAQ:OTLK) in a research note published on Wednesday morning,Benzinga reports.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Ascendiant Capital Markets upped their price objective on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Oncobiologics currently has an average rating of “Hold” and a consensus price target of $6.50.

Oncobiologics Price Performance

NASDAQ OTLK opened at $0.41 on Wednesday. The company has a fifty day moving average price of $0.96 and a 200-day moving average price of $1.32. The firm has a market cap of $30.11 million, a price-to-earnings ratio of -0.16 and a beta of 0.10. Oncobiologics has a 1 year low of $0.38 and a 1 year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The company had revenue of ($1.21) million for the quarter, compared to the consensus estimate of $3.14 million. On average, research analysts anticipate that Oncobiologics will post -2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OTLK. Goldman Sachs Group Inc. raised 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 acquiring an additional 44,063 shares during the period. AQR Capital Management LLC raised its position 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 valued at $103,000 after purchasing an additional 25,351 shares during the period. Finally, 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 valued at $39,000 after purchasing an additional 21,941 shares during the period. 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.