Oncobiologics (NASDAQ:OTLK) Price Target Raised to $10.00

Oncobiologics (NASDAQ:OTLK) had its price objective hoisted by Ascendiant Capital Markets from $8.00 to $10.00 in a report issued on Monday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Wall Street Zen upgraded Oncobiologics from a “strong sell” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Oncobiologics in a report on Monday, December 8th. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a report on Tuesday, September 30th. Chardan Capital reaffirmed a “neutral” rating and set a $3.00 price objective on shares of Oncobiologics in a research report on Thursday, August 28th. Finally, Zacks Research cut shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Oncobiologics presently has an average rating of “Hold” and an average target price of $7.00.

Oncobiologics Stock Performance

Oncobiologics stock opened at $1.88 on Monday. Oncobiologics has a twelve month low of $0.79 and a twelve month high of $3.39. The firm has a market cap of $83.29 million, a PE ratio of -1.23 and a beta of 0.17. The firm’s 50 day moving average price is $1.67 and its two-hundred day moving average price is $1.66.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings results on Friday, December 19th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $4.65 million for the quarter, compared to analysts’ expectations of $5.85 million. Equities analysts anticipate that Oncobiologics will post -2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncobiologics

A number of institutional investors have recently modified their holdings of OTLK. Russell Investments Group Ltd. boosted its holdings 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 period. AQR Capital Management LLC raised 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 worth $103,000 after acquiring an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in 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 acquiring an additional 44,063 shares during the last quarter. Institutional investors own 11.20% of the company’s stock.

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.