Oncobiologics (NASDAQ:OTLK) Rating Lowered to “Sell” at Wall Street Zen

Oncobiologics (NASDAQ:OTLK) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently commented on the company. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. BTIG Research restated a “neutral” rating on shares of Oncobiologics in a report on Monday, May 18th. Finally, Ascendiant Capital Markets boosted their price objective on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Oncobiologics currently has an average rating of “Hold” and an average target price of $6.50.

Oncobiologics Price Performance

Shares of Oncobiologics stock opened at $1.39 on Friday. The business’s fifty day moving average price is $1.06 and its two-hundred day moving average price is $0.66. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $3.39. The company has a market capitalization of $206.54 million, a P/E ratio of -1.19 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.16) earnings per share (EPS) 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. On average, research analysts expect that Oncobiologics will post -0.48 earnings per share for the current fiscal year.

Insider Activity at Oncobiologics

In other news, Director Ghiath M. Sukhtian bought 8,539,709 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. This represents a 63.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Oncobiologics

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in 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 purchasing an additional 25,351 shares during the period. Goldman Sachs Group Inc. lifted its position in 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 purchasing an additional 44,063 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings 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 during the period. 11.20% of the stock is owned by 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.