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

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have received an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.00.

A number of analysts have recently commented on OTLK shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday. Wall Street Zen raised shares of Oncobiologics from a “strong sell” rating to a “hold” rating in a research note on Saturday, December 20th. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Finally, Ascendiant Capital Markets increased their target price on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, December 22nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTLK. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 44,063 shares during the last quarter. AQR Capital Management LLC raised its position 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 valued at $103,000 after buying an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake 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. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Price Performance

Shares of OTLK stock opened at $1.58 on Friday. Oncobiologics has a 1-year low of $0.79 and a 1-year high of $3.39. The company has a market cap of $101.29 million, a price-to-earnings ratio of -1.04 and a beta of 0.18. The stock has a 50 day simple moving average of $1.72 and a 200-day simple moving average of $1.66.

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