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

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have been given an average rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $6.50.

A number of research analysts have issued reports on the stock. Chardan Capital reaffirmed a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Ascendiant Capital Markets upped their target price on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. Wall Street Zen cut Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Finally, HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th.

Oncobiologics Stock Performance

Shares of NASDAQ OTLK opened at $0.44 on Friday. Oncobiologics has a fifty-two week low of $0.38 and a fifty-two week high of $3.39. The company has a market cap of $36.53 million, a PE ratio of -0.17 and a beta of 0.10. The business has a 50-day simple moving average of $0.79 and a two-hundred day simple moving average of $1.27.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The company had revenue of ($1.21) million for the quarter, compared to analysts’ expectations of $3.14 million. On average, sell-side analysts predict that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oncobiologics

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake 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 acquiring an additional 21,941 shares during the period. AQR Capital Management LLC lifted 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 valued at $103,000 after purchasing an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after purchasing 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.