Oncobiologics’ (OTLK) “Neutral” Rating Reiterated at BTIG Research

Oncobiologics (NASDAQ:OTLK)‘s stock had its “neutral” rating reiterated by investment analysts at BTIG Research in a note issued to investors on Monday,Benzinga reports.

Other equities research analysts have also issued reports about the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Oncobiologics in a research report on Friday, March 27th. Ascendiant Capital Markets reduced their price objective on Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Finally, Chardan Capital reissued a “neutral” rating on shares of Oncobiologics in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.50.

Oncobiologics Stock Performance

Oncobiologics stock opened at $0.23 on Monday. Oncobiologics has a 52 week low of $0.16 and a 52 week high of $3.39. The stock has a fifty day moving average price of $0.28 and a 200 day moving average price of $0.83. The firm has a market capitalization of $27.57 million, a P/E ratio of -0.19 and a beta of 0.32.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. As a group, equities analysts predict that Oncobiologics will post -0.51 EPS for the current year.

Institutional Trading of Oncobiologics

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Oncobiologics by 865.2% during the second 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. AQR Capital Management LLC lifted its stake in Oncobiologics by 42.7% during the first 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 last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Oncobiologics by 74.1% during the first 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. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Company Profile

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.