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

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have been assigned an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat reports. One 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 1-year target price among brokerages that have updated their coverage on the stock in the last year is $6.50.

Several brokerages recently commented on OTLK. Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday. Ascendiant Capital Markets upped their target price 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. Weiss Ratings upgraded shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. Finally, BTIG Research reissued a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th.

Oncobiologics Stock Performance

NASDAQ:OTLK opened at $1.38 on Tuesday. The stock has a fifty day moving average price of $1.09 and a two-hundred day moving average price of $0.65. The stock has a market capitalization of $205.05 million, a price-to-earnings ratio of -1.18 and a beta of 0.77. Oncobiologics has a 1 year low of $0.16 and a 1 year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last released its earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. On average, analysts predict that Oncobiologics will post -0.48 EPS for the current year.

Insider Buying and Selling

In other news, Director Ghiath M. Sukhtian bought 8,539,709 shares of the stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the completion of the acquisition, the director owned 22,092,068 shares of the company’s stock, valued at approximately $13,034,320.12. This trade represents a 63.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Oncobiologics

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in shares of Oncobiologics by 74.1% during 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 valued at $103,000 after buying 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 valued at $39,000 after buying an additional 21,941 shares in the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

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.