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

Oncobiologics, Inc. (NASDAQ:OTLK) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $4.50.

A number of brokerages recently issued reports on OTLK. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Ascendiant Capital Markets reduced their price objective on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Chardan Capital reissued a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a research report on Friday, March 27th.

Hedge Funds Weigh In On Oncobiologics

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Oncobiologics by 865.2% during the second 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. AQR Capital Management LLC lifted its holdings in Oncobiologics by 42.7% during the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after buying an additional 25,351 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after acquiring an additional 44,063 shares in the last quarter. 11.20% of the stock is currently owned by institutional investors and hedge funds.

Oncobiologics Stock Performance

Shares of OTLK opened at $0.23 on Thursday. Oncobiologics has a one year low of $0.16 and a one year high of $3.39. The stock has a 50-day moving average price of $0.29 and a 200 day moving average price of $0.85. The company has a market capitalization of $24.06 million, a P/E ratio of -0.09 and a beta of 0.32.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The business had revenue of ($1.21) million during the quarter, compared to the consensus estimate of $3.14 million. As a group, equities research analysts forecast that Oncobiologics will post -0.51 earnings per share for the current fiscal year.

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.