Oncobiologics, Inc. (NASDAQ:OTLK) Given Average Recommendation of “Hold” by Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have received a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.00.

Several equities research analysts have recently commented on the company. Chardan Capital restated a “neutral” rating and issued a $3.00 price objective on shares of Oncobiologics in a research note on Thursday, August 28th. Ascendiant Capital Markets cut their price target on Oncobiologics from $21.00 to $8.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncobiologics in a research note on Friday, October 31st. Guggenheim downgraded Oncobiologics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 28th. Finally, HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a report on Tuesday, September 30th.

Oncobiologics Trading Up 2.6%

Shares of NASDAQ OTLK opened at $1.96 on Thursday. Oncobiologics has a 12-month low of $0.79 and a 12-month high of $5.44. The firm has a market capitalization of $87.06 million, a price-to-earnings ratio of -3.44 and a beta of 0.60. The firm has a 50 day moving average of $1.24 and a 200 day moving average of $1.62.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OTLK. Russell Investments Group Ltd. increased its stake in 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 in the last quarter. AQR Capital Management LLC boosted its stake 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 acquiring an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Oncobiologics by 74.1% during the first 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. Hedge funds and other institutional investors own 11.20% of the company’s stock.

About Oncobiologics

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.