Oncobiologics, Inc. (NASDAQ:OTLK) Receives Consensus Recommendation of “Hold” from Brokerages

Oncobiologics, Inc. (NASDAQ:OTLK) has been given an average recommendation of “Hold” by the seven analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $4.50.

A number of brokerages recently weighed in on OTLK. BTIG Research reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th. Wall Street Zen raised shares of Oncobiologics to a “sell” rating in a research note on Saturday. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Ascendiant Capital Markets decreased their target price on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, Chardan Capital reissued a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OTLK. Goldman Sachs Group Inc. lifted its stake 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 in the last quarter. AQR Capital Management LLC lifted its stake in 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 in the last quarter. Finally, Russell Investments Group Ltd. lifted 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. 11.20% of the stock is owned by hedge funds and other institutional investors.

Oncobiologics Stock Performance

Shares of Oncobiologics stock opened at $0.73 on Monday. The firm has a market capitalization of $88.23 million, a PE ratio of -0.62 and a beta of 0.94. Oncobiologics has a twelve month low of $0.16 and a twelve month high of $3.39. The firm’s 50-day moving average price is $0.28 and its 200 day moving average price is $0.78.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $4.39 million. On average, sell-side analysts predict that Oncobiologics will post -0.51 EPS for the current fiscal year.

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.