Oncobiologics (NASDAQ:OTLK) Upgraded to Hold at Wall Street Zen

Oncobiologics (NASDAQ:OTLK) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms also recently commented on OTLK. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. BTIG Research reissued a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th. Finally, Ascendiant Capital Markets increased their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.50.

Oncobiologics Price Performance

Shares of OTLK stock opened at $1.58 on Friday. The stock has a market cap of $221.28 million, a P/E ratio of -1.35 and a beta of 0.96. Oncobiologics has a one year low of $0.16 and a one year high of $3.39. The stock has a fifty day moving average price of $0.54 and a 200 day moving average price of $0.72.

Oncobiologics (NASDAQ:OTLK) last posted 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 business had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $4.39 million. Equities research analysts anticipate that Oncobiologics will post -0.48 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the completion of the purchase, the director directly owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. The trade was a 63.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oncobiologics

Several institutional investors and hedge funds have recently made changes to their positions in OTLK. Goldman Sachs Group Inc. grew its holdings in shares of 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 last quarter. AQR Capital Management LLC lifted its holdings in Oncobiologics by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after purchasing an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Oncobiologics by 865.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after purchasing an additional 21,941 shares during 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.