Oncobiologics, Inc. (NASDAQ:OTLK) Receives $5.20 Consensus Price Target from Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have earned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One equities research 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 1 year price objective among brokers that have issued a report on the stock in the last year is $5.20.

A number of equities analysts have recently weighed in on OTLK shares. Ascendiant Capital Markets upped their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. BTIG Research reiterated a “buy” rating and issued a $4.00 price objective on shares of Oncobiologics in a research note on Friday, August 14th. HC Wainwright boosted their price objective on shares of Oncobiologics to $1.60 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th.

Oncobiologics Price Performance

OTLK opened at $0.67 on Wednesday. Oncobiologics has a 12 month low of $0.16 and a 12 month high of $2.54. The stock has a market capitalization of $163.11 million, a P/E ratio of -0.87 and a beta of 0.74. The business has a 50 day simple moving average of $0.97 and a 200-day simple moving average of $0.74.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings data 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 company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.97 million. Research analysts anticipate that Oncobiologics will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other Oncobiologics news, Director Ghiath M. Sukhtian acquired 2,525,252 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average cost of $0.99 per share, with a total value of $2,499,999.48. Following the purchase, the director directly owned 24,617,320 shares in the company, valued at approximately $24,371,146.80. This trade represents a 11.43% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Faisal Ghiath Sukhtian purchased 95,398 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average cost 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 $232,020.60. This represents a 75.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oncobiologics

A hedge fund recently bought a new position in Oncobiologics stock. NewEdge Advisors LLC purchased a new stake in Oncobiologics, Inc. (NASDAQ:OTLK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,722 shares of the company’s stock, valued at approximately $27,000. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

About Oncobiologics

Oncobiologics, Inc, now known as Outlook Therapeutics, Inc (NASDAQ: OTLK), is a biopharmaceutical company focused on developing and commercializing ophthalmic medicines. The company specializes in biologic therapies intended to address diseases affecting the eye, with an emphasis on retinal disorders.

The company’s lead product is ONS-5010, an ophthalmic formulation of bevacizumab developed for intravitreal treatment of wet age-related macular degeneration and other retinal conditions.