Wall Street Zen Downgrades Oncobiologics (NASDAQ:OTLK) to Sell

Oncobiologics (NASDAQ:OTLK) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research firms also recently commented on OTLK. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a research note on Monday, December 29th. Ascendiant Capital Markets upped their price target on Oncobiologics from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Finally, HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Oncobiologics currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Oncobiologics Price Performance

OTLK stock opened at $0.66 on Friday. The company has a fifty day moving average price of $1.70 and a 200 day moving average price of $1.66. Oncobiologics has a 12 month low of $0.60 and a 12 month high of $3.39. The company has a market cap of $42.31 million, a price-to-earnings ratio of -0.43 and a beta of 0.17.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings data on Friday, December 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. The business had revenue of $4.65 million for the quarter, compared to analysts’ expectations of $5.85 million. As a group, analysts anticipate that Oncobiologics will post -2.27 earnings per share for the current year.

Institutional Investors Weigh In On Oncobiologics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in Oncobiologics by 74.1% during the first 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 during the last quarter. AQR Capital Management LLC grew its position in shares of 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 purchasing an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Oncobiologics by 865.2% during 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 in the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Company Profile

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.