Oncobiologics, Inc. (NASDAQ:OTLK) Stock Has Consensus Price Target of $5.20 According to Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK – Get Free Report) have been assigned an average recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.20.

Several research firms recently commented on OTLK. BTIG Research reaffirmed a “buy” rating and set a $4.00 target price on shares of Oncobiologics in a report on Friday, August 14th. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. HC Wainwright raised their price objective on Oncobiologics to $1.60 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Ascendiant Capital Markets raised their price objective on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th.

View Our Latest Research Report on OTLK

Insider Activity

In related news, Director Ghiath Sukhtian purchased 2,525,252 shares of Oncobiologics stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average cost of $0.99 per share, for a total transaction of $2,499,999.48. Following the transaction, the director directly owned 24,617,320 shares in the company, valued at $24,371,146.80. The trade was a 11.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Faisal Ghiath Sukhtian purchased 95,398 shares of Oncobiologics stock in a transaction that occurred on Wednesday, July 29th. The shares were bought at an average price of $1.05 per share, for a total transaction of $100,167.90. Following the completion of the transaction, the director owned 220,972 shares in the company, valued at $232,020.60. The trade was a 75.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Oncobiologics stock. NewEdge Advisors LLC bought a new position in Oncobiologics, Inc. (NASDAQ:OTLK – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,722 shares of the company’s stock, valued at approximately $27,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Price Performance

Shares of OTLK opened at $0.56 on Friday. Oncobiologics has a 1 year low of $0.16 and a 1 year high of $2.54. The stock has a 50 day simple moving average of $0.72 and a two-hundred day simple moving average of $0.76. The firm has a market cap of $137.31 million, a P/E ratio of -0.73 and a beta of 0.66.

Oncobiologics (NASDAQ:OTLK – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.97 million. On average, equities analysts anticipate that Oncobiologics will post -0.45 earnings per share for the current year.

About Oncobiologics

(Get Free Report)

Oncobiologics, Inc is a biopharmaceutical company that changed its name to Outlook Therapeutics, Inc The company focuses on developing and commercializing ophthalmic therapies for eye diseases, with an emphasis on treatments that address significant unmet medical needs.

Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab developed under the brand name LYTENAVA (bevacizumab-vikg). The product is intended for intravitreal use in retinal diseases, including neovascular age-related macular degeneration, diabetic macular edema and retinal vein occlusion.

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Analyst Recommendations for Oncobiologics (NASDAQ:OTLK)

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