Oncobiologics’ (OTLK) “Neutral” Rating Reaffirmed at Chardan Capital

Chardan Capital restated their neutral rating on shares of Oncobiologics (NASDAQ:OTLK) in a research report sent to investors on Wednesday,Benzinga reports.

A number of other brokerages also recently issued reports on OTLK. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a research report on Wednesday. Ascendiant Capital Markets lifted their target price on shares of Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.50.

Oncobiologics Price Performance

Shares of NASDAQ:OTLK opened at $0.41 on Wednesday. The stock’s 50-day moving average is $0.96 and its 200 day moving average is $1.32. The company has a market cap of $30.11 million, a PE 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 data on Tuesday, February 17th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The business had revenue of ($1.21) million during the quarter, compared to analyst estimates of $3.14 million. Analysts expect that Oncobiologics will post -2.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Oncobiologics

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of Oncobiologics by 42.7% during 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 in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of 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 in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of 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 buying an additional 21,941 shares during the last quarter. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Company Profile

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.