Oncobiologics, Inc. (NASDAQ:OTLK) Receives Consensus Rating of “Hold” from Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $4.65.

Several research firms recently issued reports on OTLK. HC Wainwright upped their price target on shares of Oncobiologics to $1.60 and gave the company a “neutral” rating in a report on Monday, July 27th. Ascendiant Capital Markets raised their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. BTIG Research reissued a “buy” rating and issued a $4.00 target price on shares of Oncobiologics in a research report on Friday, August 14th. Wall Street Zen lowered shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th.

Oncobiologics Stock Down 1.4%

OTLK stock opened at $0.69 on Friday. The stock’s 50 day moving average is $1.31 and its two-hundred day moving average is $0.71. Oncobiologics has a 52-week low of $0.16 and a 52-week high of $3.39. The company has a market capitalization of $102.54 million, a PE ratio of -0.90 and a beta of 0.82.

Oncobiologics (NASDAQ:OTLK) last released its earnings results on Friday, August 14th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.97 million. As a group, sell-side analysts anticipate that Oncobiologics will post -0.49 EPS for the current year.

Insider Activity

In other news, Director Faisal Ghiath Sukhtian acquired 95,398 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were purchased at an average price of $1.05 per share, for a total transaction of $100,167.90. Following the completion of the purchase, the director directly owned 220,972 shares of the company’s stock, valued at $232,020.60. This represents a 75.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ghiath M. Sukhtian bought 2,525,252 shares of Oncobiologics stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $0.99 per share, for a total transaction of $2,499,999.48. Following the acquisition, the director owned 24,617,320 shares in the company, valued at $24,371,146.80. The trade was a 11.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 11,189,359 shares of company stock valued at $7,662,666. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Oncobiologics

Hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings 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 purchasing an additional 21,941 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of 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 buying an additional 44,063 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of 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 buying an additional 25,351 shares during the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

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.