Ascendiant Capital Markets Forecasts Strong Price Appreciation for Oncobiologics (NASDAQ:OTLK) Stock

Oncobiologics (NASDAQ:OTLK) had its price target raised by investment analysts at Ascendiant Capital Markets from $8.00 to $10.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Ascendiant Capital Markets’ target price would indicate a potential upside of 437.63% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Chardan Capital reissued a “neutral” rating and issued a $3.00 price target on shares of Oncobiologics in a research note on Thursday, August 28th. Zacks Research downgraded shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Wall Street Zen upgraded shares of Oncobiologics from a “strong sell” rating to a “hold” rating in a research report on Saturday. Guggenheim downgraded shares of Oncobiologics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncobiologics in a report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.00.

Oncobiologics Stock Performance

Shares of Oncobiologics stock opened at $1.86 on Monday. Oncobiologics has a fifty-two week low of $0.79 and a fifty-two week high of $3.39. The firm has a 50-day simple moving average of $1.66 and a two-hundred day simple moving average of $1.66. The company has a market cap of $82.62 million, a P/E ratio of -1.22 and a beta of 0.17.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings results on Friday, December 19th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $4.65 million during the quarter, compared to analyst estimates of $5.85 million. Equities research analysts forecast that Oncobiologics will post -2.27 EPS for the current year.

Institutional Trading of Oncobiologics

A number of hedge funds have recently bought and sold shares of OTLK. Goldman Sachs Group Inc. boosted its holdings in shares of Oncobiologics by 74.1% during 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 during the last quarter. AQR Capital Management LLC lifted its position in Oncobiologics by 42.7% during the first 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 in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Oncobiologics by 865.2% during 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 and hedge funds 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.