Oncobiologics (NASDAQ:OTLK) Rating Lowered to Sell at Wall Street Zen

Oncobiologics (NASDAQ:OTLK) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other equities research analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a research report on Monday. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a report on Tuesday, September 30th. Finally, Ascendiant Capital Markets increased their price target on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.00.

Oncobiologics Price Performance

OTLK opened at $0.66 on Friday. The company has a market capitalization of $42.31 million, a price-to-earnings ratio of -0.43 and a beta of 0.17. The business’s 50-day moving average price is $1.70 and its two-hundred day moving average price is $1.66. Oncobiologics has a 1 year low of $0.60 and a 1 year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its earnings results on Friday, December 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $4.65 million during the quarter, compared to analyst estimates of $5.85 million. Sell-side analysts anticipate that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oncobiologics

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in Oncobiologics by 865.2% during 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 during the last quarter. AQR Capital Management LLC increased its holdings 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 purchasing an additional 25,351 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Oncobiologics by 74.1% in the first 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 during the period. 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.