Oncobiologics, Inc. (NASDAQ:OTLK) Stock Has Consensus Target Price of $5.20 According to Analysts

Oncobiologics, Inc. (NASDAQ:OTLK) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $5.20.

OTLK has been the topic of several recent analyst reports. Weiss Ratings raised Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. BTIG Research reaffirmed a “buy” rating and set a $4.00 price objective 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, HC Wainwright lifted their price objective on shares of Oncobiologics to $1.60 and gave the company a “neutral” rating in a research note on Monday, July 27th.

Oncobiologics Price Performance

OTLK stock opened at $0.47 on Thursday. The stock has a 50-day moving average price of $0.60 and a 200-day moving average price of $0.67. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $2.54.

Oncobiologics (NASDAQ:OTLK) last announced 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 company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.97 million. As a group, equities research analysts forecast that Oncobiologics will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ghiath Sukhtian purchased 2,525,252 shares of Oncobiologics stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $0.99 per share, for a total transaction of $2,499,999.48. Following the completion of the acquisition, the director owned 24,617,320 shares of the company’s stock, valued at $24,371,146.80. This trade represents a 11.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Oncobiologics

An institutional investor recently bought a new stake in Oncobiologics stock. NewEdge Advisors LLC acquired a new position in shares of Oncobiologics, Inc. (NASDAQ:OTLK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,722 shares of the company’s stock, valued at approximately $27,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

About Oncobiologics

Oncobiologics, now known as Outlook Therapeutics, Inc (NASDAQ: OTLK), is a biopharmaceutical company focused on developing and commercializing ophthalmic therapies for retinal diseases. The company was established as Oncobiologics and later changed its name to Outlook Therapeutics to reflect its emphasis on eye-care products.

Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab designed for intravitreal use. The therapy has been studied for vascular retinal conditions, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.