Oncobiologics, Inc. (NASDAQ:OTLK) Receives $4.50 Consensus Price Target from Analysts

Oncobiologics, Inc. (NASDAQ:OTLK) has been given a consensus recommendation of “Hold” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $4.50.

OTLK has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. Chardan Capital reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Finally, Ascendiant Capital Markets reduced their price target on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 11th.

Hedge Funds Weigh In On Oncobiologics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OTLK. 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 acquiring an additional 21,941 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Oncobiologics by 42.7% in 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings 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 last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

Oncobiologics Price Performance

OTLK opened at $0.27 on Friday. The firm has a 50 day simple moving average of $0.35 and a 200 day simple moving average of $0.97. Oncobiologics has a fifty-two week low of $0.16 and a fifty-two week high of $3.39. The company has a market cap of $22.88 million, a price-to-earnings ratio of -0.10 and a beta of 0.18.

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

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.