Oncobiologics (NASDAQ:OTLK) Upgraded by BTIG Research to Buy Rating

BTIG Research upgraded shares of Oncobiologics (NASDAQ:OTLK) from a neutral rating to a buy rating in a research note issued to investors on Monday, MarketBeat Ratings reports. BTIG Research currently has $4.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Ascendiant Capital Markets upped their target price on Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Wall Street Zen cut Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Oncobiologics has an average rating of “Hold” and a consensus price target of $4.65.

Oncobiologics Trading Down 24.2%

OTLK stock opened at $1.06 on Monday. The firm’s 50-day moving average is $1.19 and its two-hundred day moving average is $0.66. The company has a market capitalization of $158.25 million, a price-to-earnings ratio of -0.91 and a beta of 0.77. Oncobiologics has a 52 week low of $0.16 and a 52 week high of $3.39.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings data 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 firm had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. On average, equities research analysts predict that Oncobiologics will post -0.48 earnings per share for the current year.

Insider Activity

In other Oncobiologics news, Director Ghiath M. Sukhtian bought 8,539,709 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Oncobiologics

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its position in 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 buying an additional 44,063 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of 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 acquiring an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position 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 valued at $39,000 after acquiring an additional 21,941 shares during the last quarter. 11.20% of the stock is currently owned by institutional investors.

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.