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

Oncobiologics, Inc. (NASDAQ:OTLK) has been given a consensus rating of “Hold” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $4.50.

A number of brokerages have recently weighed in on OTLK. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Chardan Capital restated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Ascendiant Capital Markets decreased their price target on Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th.

Oncobiologics Stock Performance

OTLK stock opened at $0.40 on Wednesday. The company’s 50 day moving average price is $0.46 and its 200 day moving average price is $1.08. The firm has a market capitalization of $32.87 million, a price-to-earnings ratio of -0.15 and a beta of -0.07. Oncobiologics has a fifty-two week low of $0.34 and a fifty-two week high of $3.39.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.22) earnings per share (EPS) 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. Equities analysts forecast that Oncobiologics will post -2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncobiologics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OTLK. Goldman Sachs Group Inc. increased its stake in Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after purchasing 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 worth $103,000 after buying 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 worth $39,000 after buying an additional 21,941 shares during the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

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.