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

Oncobiologics, Inc. (NASDAQ:OTLK) has been given a consensus recommendation of “Hold” by the six analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.3333.

Several analysts have issued reports on OTLK shares. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. Wall Street Zen downgraded Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, Ascendiant Capital Markets upped their price target on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, December 22nd.

Institutional Investors Weigh In On Oncobiologics

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted 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 worth $126,000 after acquiring an additional 44,063 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Oncobiologics by 42.7% in the 1st 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 last quarter. Finally, Russell Investments Group Ltd. grew 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 worth $39,000 after buying an additional 21,941 shares during the last quarter. Institutional investors own 11.20% of the company’s stock.

Oncobiologics Price Performance

OTLK opened at $0.44 on Tuesday. Oncobiologics has a 12-month low of $0.42 and a 12-month high of $3.39. The stock has a market capitalization of $32.34 million, a PE ratio of -0.29 and a beta of 0.17. The firm’s fifty day moving average price is $1.31 and its 200 day moving average price is $1.45.

Oncobiologics (NASDAQ:OTLK) last released its earnings results on Friday, December 19th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. The company had revenue of $4.65 million during the quarter, compared to the consensus estimate of $5.85 million. On average, equities research analysts forecast that Oncobiologics will post -2.27 earnings per share for the current fiscal 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.