Chardan Capital Reiterates Neutral Rating for Oncobiologics (NASDAQ:OTLK)

Oncobiologics (NASDAQ:OTLK)‘s stock had its “neutral” rating reissued by research analysts at Chardan Capital in a research report issued on Wednesday,Benzinga reports.

Several other research firms have also recently weighed in on OTLK. Weiss Ratings reiterated a “sell (e+)” rating on shares of Oncobiologics in a research report on Monday, December 29th. Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a research note on Wednesday. Finally, Ascendiant Capital Markets upped their target price on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Oncobiologics currently has an average rating of “Hold” and an average price target of $6.50.

Oncobiologics Trading Up 6.1%

Shares of OTLK stock opened at $0.43 on Wednesday. Oncobiologics has a 1-year low of $0.38 and a 1-year high of $3.39. The stock has a market cap of $36.10 million, a price-to-earnings ratio of -0.17 and a beta of 0.10. The stock has a 50-day moving average of $0.93 and a 200-day moving average of $1.32.

Oncobiologics (NASDAQ:OTLK) last announced its earnings results on Tuesday, February 17th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The company had revenue of ($1.21) million during the quarter, compared to analyst estimates of $3.14 million. Sell-side analysts forecast that Oncobiologics will post -2.27 earnings per share for the current year.

Institutional Investors Weigh In On Oncobiologics

A number of large investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after purchasing an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Oncobiologics by 74.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after buying an additional 44,063 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Oncobiologics by 42.7% during 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. Hedge funds and other 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.