Oncobiologics (NASDAQ:OTLK) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Oncobiologics (NASDAQ:OTLK – Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other brokerages have also weighed in on OTLK. BTIG Research upgraded shares of Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a report on Monday, July 27th. HC Wainwright boosted their target price on shares of Oncobiologics to $1.60 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings lowered Oncobiologics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Finally, Ascendiant Capital Markets raised their price target on Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.65.

Check Out Our Latest Stock Analysis on Oncobiologics

Oncobiologics Stock Performance

Shares of Oncobiologics stock opened at $0.91 on Friday. The business has a 50-day simple moving average of $1.26 and a 200-day simple moving average of $0.67. Oncobiologics has a one year low of $0.16 and a one year high of $3.39. The company has a market cap of $135.66 million, a PE ratio of -0.78 and a beta of 0.82.

Oncobiologics (NASDAQ:OTLK – Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $4.39 million. On average, sell-side analysts predict that Oncobiologics will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the completion of the acquisition, the director owned 22,092,068 shares in the company, valued at $13,034,320.12. This trade represents a 63.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Faisal Ghiath Sukhtian acquired 95,398 shares of Oncobiologics stock in a transaction dated Wednesday, July 29th. The shares were bought at an average price of $1.05 per share, with a total value of $100,167.90. Following the transaction, the director directly owned 220,972 shares in the company, valued at approximately $232,020.60. The trade was a 75.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 8,664,107 shares of company stock worth $5,162,666. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oncobiologics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Oncobiologics by 865.2% in the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after acquiring an additional 21,941 shares during the period. AQR Capital Management LLC increased its holdings in shares of Oncobiologics by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock valued at $103,000 after acquiring an additional 25,351 shares during the period. Finally, Goldman Sachs Group Inc. raised 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 valued at $126,000 after purchasing an additional 44,063 shares during the last quarter. 11.20% of the stock is owned by hedge funds and other institutional investors.

Oncobiologics Company Profile

(Get Free Report)

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.

Recommended Stories