Oncobiologics, Inc. (NASDAQ:OTLK) Stock Has Consensus Target Price of $5.20 According to Analysts

Oncobiologics, Inc. (NASDAQ:OTLK) has been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $5.20.

A number of equities analysts have issued reports on OTLK shares. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. BTIG Research reissued a “buy” rating and set a $4.00 price target on shares of Oncobiologics in a research note on Friday, August 14th. Finally, HC Wainwright boosted their price target on Oncobiologics to $1.60 and gave the stock a “neutral” rating in a report on Monday, July 27th.

Insider Buying and Selling

In other Oncobiologics news, Director Ghiath Sukhtian bought 2,525,252 shares of Oncobiologics stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $0.99 per share, with a total value of $2,499,999.48. Following the acquisition, the director directly owned 24,617,320 shares of the company’s stock, valued at $24,371,146.80. The trade was a 11.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oncobiologics

A hedge fund recently bought a new position in Oncobiologics stock. NewEdge Advisors LLC purchased a new position in shares of Oncobiologics, Inc. (NASDAQ:OTLK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,722 shares of the company’s stock, valued at approximately $27,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Stock Performance

Shares of Oncobiologics stock opened at $0.46 on Thursday. The company’s 50 day moving average price is $0.59 and its two-hundred day moving average price is $0.66. Oncobiologics has a fifty-two week low of $0.16 and a fifty-two week high of $2.54.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.97 million. On average, research analysts anticipate that Oncobiologics will post -0.44 EPS for the current year.

About Oncobiologics

Oncobiologics, now known as Outlook Therapeutics, Inc (NASDAQ: OTLK), is a biopharmaceutical company focused on developing and commercializing ophthalmic therapies for retinal diseases. The company was established as Oncobiologics and later changed its name to Outlook Therapeutics to reflect its emphasis on eye-care products.

Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab designed for intravitreal use. The therapy has been studied for vascular retinal conditions, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.