Oncobiologics (NASDAQ:OTLK) Given New $1.60 Price Target at HC Wainwright

Oncobiologics (NASDAQ:OTLK) had its price objective increased by HC Wainwright to $1.60 in a research note published on Monday,Benzinga reports. HC Wainwright currently has a neutral rating on the stock.

Several other equities analysts have also issued reports on the company. Ascendiant Capital Markets boosted their price objective on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. BTIG Research upgraded shares of Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Monday. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Oncobiologics has an average rating of “Hold” and a consensus target price of $4.65.

Oncobiologics Trading Down 24.2%

OTLK stock opened at $1.06 on Monday. The business’s 50-day moving average price is $1.19 and its two-hundred day moving average price is $0.66. The firm has a market cap of $158.25 million, a PE ratio of -0.91 and a beta of 0.77. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. On average, analysts forecast that Oncobiologics will post -0.48 earnings per share for the current year.

Insider Activity

In other news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were purchased at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the purchase, the director directly owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. This trade represents a 63.01% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Oncobiologics by 865.2% during the second 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 in the last quarter. AQR Capital Management LLC lifted its stake in 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 acquiring an additional 25,351 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after acquiring an additional 44,063 shares during the last quarter. 11.20% of the stock is 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.