Oncobiologics, Inc. (NASDAQ:OTLK) Given Average Recommendation of “Hold” by Analysts

Oncobiologics, Inc. (NASDAQ:OTLKGet Free Report) has been given an average recommendation of “Hold” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $6.50.

OTLK has been the subject of several recent research reports. BTIG Research restated a “neutral” rating on shares of Oncobiologics in a research note on Monday, May 18th. Wall Street Zen cut Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Ascendiant Capital Markets lifted their target price on Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th.

Check Out Our Latest Stock Analysis on Oncobiologics

Insiders Place Their Bets

In other Oncobiologics news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average price of $0.59 per share, for a total transaction of $5,038,428.31. Following the purchase, the director directly owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. This trade represents a 63.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 44,063 shares in the last quarter. AQR Capital Management LLC grew 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 worth $103,000 after buying an additional 25,351 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Oncobiologics by 865.2% during the second 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 in the last quarter. 11.20% of the stock is owned by institutional investors.

Oncobiologics Stock Up 6.4%

Shares of OTLK stock opened at $1.41 on Tuesday. Oncobiologics has a 12-month low of $0.16 and a 12-month high of $3.39. The company has a market capitalization of $208.77 million, a PE ratio of -1.20 and a beta of 0.77. The firm has a 50 day moving average price of $1.18 and a two-hundred day moving average price of $0.65.

Oncobiologics (NASDAQ:OTLKGet Free Report) last posted its earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. As a group, research analysts expect that Oncobiologics will post -0.48 EPS for the current year.

Oncobiologics Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Oncobiologics (NASDAQ:OTLK)

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