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

Oncobiologics, Inc. (NASDAQ:OTLK) has earned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $6.50.

A number of research analysts have recently weighed in on the stock. BTIG Research reissued a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Wall Street Zen raised shares of Oncobiologics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Ascendiant Capital Markets raised their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th.

Oncobiologics Trading Down 4.2%

OTLK stock opened at $1.61 on Friday. The firm has a 50 day moving average of $0.66 and a 200-day moving average of $0.70. Oncobiologics has a 12-month low of $0.16 and a 12-month high of $3.39. The company has a market cap of $225.48 million, a price-to-earnings ratio of -1.38 and a beta of 0.96.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings data 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 firm had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. Sell-side analysts forecast that Oncobiologics will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Oncobiologics

In other Oncobiologics news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was acquired at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the purchase, the director directly owned 22,092,068 shares in the company, valued at approximately $13,034,320.12. This trade represents a 63.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its stake in shares of Oncobiologics by 865.2% during 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. AQR Capital Management LLC grew 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 acquiring an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after acquiring an additional 44,063 shares during the last quarter. 11.20% of the stock is owned by hedge funds and other 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.