Oncobiologics, Inc. (NASDAQ:OTLK) Given Average Rating of “Hold” by Analysts

Oncobiologics, Inc. (NASDAQ:OTLK) has been assigned an average rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $4.50.

A number of research firms recently issued reports on OTLK. Chardan Capital reiterated a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. BTIG Research restated a “neutral” rating on shares of Oncobiologics in a research report on Monday, May 18th. Ascendiant Capital Markets decreased their price target on shares of Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of Oncobiologics to a “sell” rating in a research report on Saturday, May 30th.

Insider Transactions at Oncobiologics

In related news, Director Ghiath M. Sukhtian purchased 8,539,709 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $0.59 per share, for a total transaction of $5,038,428.31. Following the transaction, the director directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Oncobiologics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its position in 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. Goldman Sachs Group Inc. grew its position in Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after purchasing an additional 44,063 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Oncobiologics by 42.7% in 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 during the last quarter. 11.20% of the stock is currently owned by institutional investors and hedge funds.

Oncobiologics Stock Performance

NASDAQ:OTLK opened at $0.78 on Monday. Oncobiologics has a 1 year low of $0.16 and a 1 year high of $3.39. The firm’s fifty day simple moving average is $0.34 and its 200 day simple moving average is $0.75. The firm has a market capitalization of $108.77 million, a PE ratio of -0.66 and a beta of 0.96.

Oncobiologics (NASDAQ:OTLK) last posted its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. As a group, analysts anticipate that Oncobiologics will post -0.51 EPS for the current fiscal year.

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.