Oncobiologics, Inc. (NASDAQ:OTLK) Receives $6.50 Consensus PT from Analysts

Oncobiologics, Inc. (NASDAQ:OTLK) has received a consensus rating of “Hold” from the six brokerages that are currently covering the company, 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 brokerages that have issued ratings on the stock in the last year is $6.50.

OTLK has been the subject of several research reports. Guggenheim lowered shares of Oncobiologics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncobiologics in a research report on Monday, December 8th. Ascendiant Capital Markets reduced their target price on shares of Oncobiologics from $21.00 to $8.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Zacks Research cut shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Finally, Chardan Capital reissued a “neutral” rating and set a $3.00 price objective on shares of Oncobiologics in a research report on Thursday, August 28th.

Oncobiologics Stock Performance

Oncobiologics stock opened at $1.98 on Monday. Oncobiologics has a one year low of $0.79 and a one year high of $3.39. The stock has a fifty day moving average of $1.54 and a 200 day moving average of $1.65. The stock has a market cap of $87.95 million, a PE ratio of -3.47 and a beta of 0.17.

Institutional Trading of Oncobiologics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in Oncobiologics by 74.1% during the first 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 in the last quarter. AQR Capital Management LLC increased its holdings 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 worth $103,000 after purchasing an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted 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 worth $39,000 after buying an additional 21,941 shares in the last quarter. Institutional investors own 11.20% of the company’s stock.

Oncobiologics Company Profile

Outlook Therapeutics, Inc, operates as a clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab product candidate that is in Phase-III clinical trial for the treatment of wet age-related macular degeneration and other retina diseases.