Oncobiologics (NASDAQ:OTLK) Stock Price Up 4.6% – Still a Buy?

by · The Cerbat Gem

Oncobiologics, Inc. (NASDAQ:OTLK – Get Free Report) was up 4.6% on Thursday . The stock traded as high as $2.10 and last traded at $2.06. Approximately 2,347,298 shares changed hands during trading, a decline of 56% from the average daily volume of 5,303,301 shares. The stock had previously closed at $1.97.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OTLK. Ascendiant Capital Markets decreased 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 reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Oncobiologics in a research note on Thursday, August 28th. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Zacks Research cut shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Finally, Guggenheim downgraded shares of Oncobiologics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 28th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Oncobiologics has an average rating of “Hold” and an average target price of $6.50.

Check Out Our Latest Stock Analysis on OTLK

Oncobiologics Price Performance

The company has a market cap of $91.51 million, a price-to-earnings ratio of -3.61 and a beta of 0.17. The business’s fifty day moving average price is $1.42 and its 200 day moving average price is $1.63.

Institutional Investors Weigh In On Oncobiologics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in shares of Oncobiologics by 865.2% during 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 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 valued at $103,000 after purchasing an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in 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 period. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Company Profile

(Get Free Report)

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.

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