Oncobiologics, Inc. (NASDAQ:OTLK) Receives $6.50 Consensus Target Price from Brokerages

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have received an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.50.

Several equities research analysts recently issued reports on the stock. Zacks Research downgraded shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Ascendiant Capital Markets cut their price target on Oncobiologics from $21.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Chardan Capital reissued a “neutral” rating and issued a $3.00 price target on shares of Oncobiologics in a report on Thursday, August 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncobiologics in a research note on Monday.

Oncobiologics Stock Up 0.5%

OTLK opened at $2.09 on Monday. The firm’s 50 day moving average is $1.50 and its 200-day moving average is $1.65. Oncobiologics has a 52-week low of $0.79 and a 52-week high of $3.39. The firm has a market capitalization of $92.84 million, a P/E ratio of -3.67 and a beta of 0.17.

Institutional Trading of Oncobiologics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings 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 in the last quarter. AQR Capital Management LLC grew its holdings in 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, Russell Investments Group Ltd. increased its position 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 worth $39,000 after purchasing an additional 21,941 shares during the last quarter. Institutional investors own 11.20% of the company’s stock.

Oncobiologics Company Profile

Outlook Therapeutics, Inc, operates as a clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab product candidate that is in Phase-III clinical trial for the treatment of wet age-related macular degeneration and other retina diseases.