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

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have received an average recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $5.3333.

A number of research firms have weighed in on OTLK. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Ascendiant Capital Markets raised their price objective on shares of Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th.

Oncobiologics Trading Up 1.0%

Shares of NASDAQ OTLK opened at $0.51 on Tuesday. The company has a 50 day simple moving average of $1.45 and a two-hundred day simple moving average of $1.52. The stock has a market cap of $32.56 million, a price-to-earnings ratio of -0.33 and a beta of 0.17. Oncobiologics has a 12 month low of $0.49 and a 12 month high of $3.39.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OTLK. Russell Investments Group Ltd. boosted its stake 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 acquiring an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Oncobiologics by 74.1% in 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 period. Finally, AQR Capital Management LLC boosted 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 purchasing an additional 25,351 shares in the last quarter. Institutional investors and hedge funds 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.