Oncobiologics, Inc. (NASDAQ:OTLK) Receives $4.50 Consensus PT from Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have been assigned an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One investment 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 12 month price target among analysts that have covered the stock in the last year is $4.50.

A number of equities analysts recently issued reports on the company. Ascendiant Capital Markets lowered their price target on Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Chardan Capital reissued a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th.

Institutional Investors Weigh In On Oncobiologics

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its holdings in Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after purchasing an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Oncobiologics by 74.1% in the 1st 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 in the last quarter. Finally, AQR Capital Management LLC boosted its holdings 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 purchasing an additional 25,351 shares in the last quarter. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Stock Down 0.6%

NASDAQ OTLK opened at $0.25 on Friday. Oncobiologics has a 52-week low of $0.16 and a 52-week high of $3.39. The business’s 50-day moving average price is $0.35 and its 200 day moving average price is $0.98. The firm has a market cap of $21.41 million, a P/E ratio of -0.10 and a beta of 0.18.

Oncobiologics (NASDAQ:OTLK) last released 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 during the quarter, compared to analysts’ expectations of $3.14 million. As a group, analysts anticipate that Oncobiologics will post -2.27 earnings per share for the current year.

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.