Brokerages Set Oncobiologics, Inc. (NASDAQ:OTLK) PT at $4.50
by Sarita Garza · The Markets DailyShares of Oncobiologics, Inc. (NASDAQ:OTLK – Get Free Report) have been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $4.50.
OTLK has been the topic of a number of research reports. Chardan Capital reiterated a “neutral” rating on shares of Oncobiologics in a research report on Wednesday, February 18th. HC Wainwright reissued a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. Ascendiant Capital Markets reduced their price objective on Oncobiologics from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Finally, Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd.
View Our Latest Research Report on OTLK
Institutional Trading of Oncobiologics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Oncobiologics by 42.7% in the first 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 period. Goldman Sachs Group Inc. lifted 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. Finally, Russell Investments Group Ltd. boosted its stake in shares of 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.
Oncobiologics Stock Performance
Shares of NASDAQ:OTLK opened at $0.35 on Wednesday. The business has a fifty day moving average of $0.45 and a 200-day moving average of $1.07. Oncobiologics has a twelve month low of $0.29 and a twelve month high of $3.39. The firm has a market cap of $29.17 million, a PE ratio of -0.13 and a beta of -0.07.
Oncobiologics (NASDAQ:OTLK – Get Free Report) last issued 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, analysts anticipate that Oncobiologics will post -2.27 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.