HC Wainwright Reaffirms “Neutral” Rating for Oncobiologics (NASDAQ:OTLK)

Oncobiologics (NASDAQ:OTLK)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a report issued on Wednesday,Benzinga reports.

Other analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. Ascendiant Capital Markets upped their price target on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.50.

Oncobiologics Stock Up 6.1%

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

Oncobiologics (NASDAQ:OTLK) last issued its quarterly 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 business had revenue of ($1.21) million during the quarter, compared to the consensus estimate of $3.14 million. Analysts anticipate that Oncobiologics will post -2.27 EPS for the current year.

Institutional Investors Weigh In On Oncobiologics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after acquiring an additional 21,941 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of 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 purchasing an additional 25,351 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew 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 purchasing an additional 44,063 shares during the period. 11.20% of the stock is owned by institutional investors.

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.