Oncobiologics (NASDAQ:OTLK) Releases Earnings Results, Misses Estimates By $0.05 EPS

by · The Markets Daily

Oncobiologics (NASDAQ:OTLK – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05), FiscalAI reports. The firm had revenue of ($1.21) million for the quarter, compared to analyst estimates of $3.14 million.

Oncobiologics Stock Performance

Shares of OTLK stock traded down $0.07 during midday trading on Tuesday, reaching $0.42. 2,262,240 shares of the company were exchanged, compared to its average volume of 7,486,220. Oncobiologics has a 12 month low of $0.38 and a 12 month high of $3.39. The company has a market cap of $31.04 million, a P/E ratio of -0.28 and a beta of 0.11. The company’s 50 day moving average price is $1.03 and its two-hundred day moving average price is $1.34.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. Finally, Ascendiant Capital Markets boosted their price objective on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.33.

Check Out Our Latest Analysis on Oncobiologics

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OTLK. Russell Investments Group Ltd. lifted its position in Oncobiologics by 865.2% in the second 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 period. AQR Capital Management LLC raised its stake 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 worth $103,000 after buying an additional 25,351 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after buying an additional 44,063 shares during the period. Institutional investors and hedge funds own 11.20% of the company’s stock.

About Oncobiologics

(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.

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