Oncobiologics (NASDAQ:OTLK) Receives Buy Rating from BTIG Research

Oncobiologics (NASDAQ:OTLKGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a report released on Friday,Benzinga reports. They currently have a $4.00 target price on the stock. BTIG Research’s target price points to a potential upside of 433.33% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Wall Street Zen raised shares of Oncobiologics from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. HC Wainwright raised their price target on shares of Oncobiologics to $1.60 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Ascendiant Capital Markets lifted their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.65.

Get Our Latest Stock Report on Oncobiologics

Oncobiologics Stock Down 15.6%

NASDAQ:OTLK traded down $0.14 during trading hours on Friday, reaching $0.75. 70,870,207 shares of the stock were exchanged, compared to its average volume of 12,887,642. The firm has a 50 day simple moving average of $1.31 and a 200-day simple moving average of $0.70. Oncobiologics has a 52 week low of $0.16 and a 52 week high of $3.39. The stock has a market capitalization of $111.44 million, a P/E ratio of -0.66 and a beta of 0.82.

Oncobiologics (NASDAQ:OTLKGet Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.97 million. As a group, analysts expect that Oncobiologics will post -0.49 earnings per share for the current year.

Insider Buying and Selling at Oncobiologics

In other news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of Oncobiologics stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the completion of the acquisition, the director owned 22,092,068 shares in the company, valued at $13,034,320.12. The trade was a 63.01% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Faisal Ghiath Sukhtian purchased 95,398 shares of the stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average price of $1.05 per share, with a total value of $100,167.90. Following the transaction, the director directly owned 220,972 shares of the company’s stock, valued at approximately $232,020.60. The trade was a 75.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 8,664,107 shares of company stock worth $5,162,666 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OTLK. Russell Investments Group Ltd. grew its position in Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock worth $39,000 after purchasing an additional 21,941 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Oncobiologics by 74.1% during 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 during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of 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 buying an additional 25,351 shares during the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

About Oncobiologics

(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.

Further Reading

Analyst Recommendations for Oncobiologics (NASDAQ:OTLK)

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