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

Oncobiologics (NASDAQ:OTLK) was upgraded by investment analysts at Wall Street Zen to a “sell” rating in a note issued to investors on Saturday.

Other analysts have also recently issued research reports about the company. Chardan Capital reaffirmed a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Ascendiant Capital Markets decreased their target price on Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. BTIG Research reaffirmed a “neutral” rating on shares of Oncobiologics in a research report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.50.

Oncobiologics Stock Down 1.4%

OTLK opened at $0.73 on Friday. The firm has a market cap of $88.23 million, a PE ratio of -0.62 and a beta of 0.32. The business has a fifty day simple moving average of $0.28 and a 200-day simple moving average of $0.78. Oncobiologics has a fifty-two week low of $0.16 and a fifty-two week high of $3.39.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $4.39 million. On average, equities research analysts anticipate that Oncobiologics will post -0.51 EPS for the current fiscal year.

Institutional Trading of Oncobiologics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 44,063 shares in the last quarter. AQR Capital Management LLC raised 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 worth $103,000 after acquiring an additional 25,351 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Oncobiologics by 865.2% during the second 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. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

Oncobiologics Company Profile

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.