Shares of Oncobiologics, Inc. (NASDAQ:OTLK – Get Free Report) have received an average rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.65.
A number of equities analysts have weighed in on the stock. BTIG Research reaffirmed a “buy” rating and set a $4.00 target price on shares of Oncobiologics in a research note on Friday, August 14th. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Ascendiant Capital Markets upped their price target on Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. HC Wainwright raised their price objective on Oncobiologics to $1.60 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Wall Street Zen cut Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th.
View Our Latest Stock Analysis on Oncobiologics
Oncobiologics Price Performance
Oncobiologics (NASDAQ:OTLK – Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.97 million. Equities analysts anticipate that Oncobiologics will post -0.47 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Faisal Ghiath Sukhtian purchased 95,398 shares of the stock in a transaction dated Wednesday, July 29th. The stock was 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 in the company, valued at $232,020.60. This trade represents a 75.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ghiath M. Sukhtian purchased 2,525,252 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $0.99 per share, for a total transaction of $2,499,999.48. Following the purchase, the director owned 24,617,320 shares in the company, valued at $24,371,146.80. This represents a 11.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 11,189,359 shares of company stock worth $7,662,666. Insiders own 1.80% of the company’s stock.
Institutional Trading of Oncobiologics
Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Oncobiologics by 865.2% in 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. Goldman Sachs Group Inc. raised its holdings in 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 during the last quarter. Finally, AQR Capital Management LLC raised its holdings in 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 acquiring an additional 25,351 shares during the last quarter. 11.20% of the stock is currently owned by institutional investors.
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.
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