Oncobiologics (NASDAQ:OTLK) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Oncobiologics (NASDAQ:OTLK) from a hold rating to a sell rating in a research report report published on Saturday.

Several other equities research analysts have also recently commented on the company. Ascendiant Capital Markets raised their target price on Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 24th. Finally, BTIG Research restated a “neutral” rating on shares of Oncobiologics in a report on Monday, May 18th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.50.

Oncobiologics Trading Down 0.7%

Shares of OTLK opened at $1.38 on Friday. The firm’s fifty day simple moving average is $1.09 and its two-hundred day simple moving average is $0.65. Oncobiologics has a 12 month low of $0.16 and a 12 month high of $3.39. The stock has a market capitalization of $205.05 million, a P/E ratio of -1.18 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $4.39 million. As a group, research analysts predict that Oncobiologics will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $0.59 per share, for a total transaction of $5,038,428.31. Following the completion of the acquisition, the director owned 22,092,068 shares of the company’s stock, valued at approximately $13,034,320.12. This trade represents a 63.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Oncobiologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. boosted its holdings in 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 acquiring an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after acquiring an additional 44,063 shares during the period. Finally, AQR Capital Management LLC grew its stake in Oncobiologics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after acquiring an additional 25,351 shares during the period. 11.20% of the stock is owned by 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.