Brokerages Set Oncobiologics, Inc. (NASDAQ:OTLK) Price Target at $4.50

Oncobiologics, Inc. (NASDAQ:OTLK) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research 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 12-month target price among analysts that have updated their coverage on the stock in the last year is $4.50.

Several equities research analysts have weighed in on the company. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Chardan Capital reiterated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. Ascendiant Capital Markets dropped their price objective on Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Finally, Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd.

Oncobiologics Trading Up 4.4%

Shares of NASDAQ:OTLK opened at $0.35 on Wednesday. The firm has a 50 day moving average of $0.45 and a 200-day moving average of $1.07. Oncobiologics has a 12 month low of $0.29 and a 12 month high of $3.39. The stock has a market capitalization of $29.17 million, a PE ratio of -0.13 and a beta of -0.07.

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

Institutional Investors Weigh In On Oncobiologics

A number of hedge funds have recently made changes to their positions in OTLK. Goldman Sachs Group Inc. grew its holdings 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 valued at $126,000 after purchasing an additional 44,063 shares during the last quarter. AQR Capital Management LLC increased its position 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 purchasing an additional 25,351 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in 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 purchasing an additional 21,941 shares during the last quarter. 11.20% of the stock is currently owned by institutional investors and hedge funds.

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.