Oncobiologics, Inc. (NASDAQ:OTLK) Receives Consensus Rating of “Hold” from Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have earned an average recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.50.

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a research report on Monday, December 29th. Ascendiant Capital Markets cut their price target on Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Finally, Chardan Capital restated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th.

Oncobiologics Price Performance

Shares of Oncobiologics stock opened at $0.20 on Wednesday. The stock has a market cap of $16.46 million, a price-to-earnings ratio of -0.08 and a beta of -0.07. The firm’s 50-day moving average is $0.43 and its two-hundred day moving average is $1.06. Oncobiologics has a 1 year low of $0.16 and a 1 year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The firm had revenue of ($1.21) million for the quarter, compared to analyst estimates of $3.14 million. On average, equities analysts expect that Oncobiologics will post -2.27 earnings per share for the current year.

Institutional Trading of Oncobiologics

Several hedge funds have recently modified their holdings of OTLK. Russell Investments Group Ltd. boosted its holdings in shares of Oncobiologics by 865.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after buying an additional 21,941 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Oncobiologics by 42.7% during 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 in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Oncobiologics by 74.1% during 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 in the last quarter. 11.20% of the stock is owned by hedge funds and other institutional investors.

About Oncobiologics

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.