Oncobiologics (NASDAQ:OTLK) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Oncobiologics (NASDAQ:OTLK) from a hold rating to a sell rating in a report published on Saturday morning.

Several other equities research analysts have also commented on OTLK. Ascendiant Capital Markets upped their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. BTIG Research reissued a “neutral” rating on shares of Oncobiologics in a report on Monday, May 18th. Finally, Weiss Ratings upgraded shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.50.

Oncobiologics Price Performance

Shares of OTLK opened at $1.39 on Friday. Oncobiologics has a one year low of $0.16 and a one year high of $3.39. The firm has a market capitalization of $206.54 million, a P/E ratio of -1.19 and a beta of 0.77. The business has a fifty day moving average of $1.06 and a 200 day moving average of $0.66.

Oncobiologics (NASDAQ:OTLK) last posted its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates 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. Analysts expect that Oncobiologics will post -0.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of Oncobiologics stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the completion of the purchase, the director directly owned 22,092,068 shares in the company, valued at approximately $13,034,320.12. This trade represents a 63.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OTLK. Goldman Sachs Group Inc. lifted its position 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 acquiring an additional 44,063 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Oncobiologics by 42.7% during 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 in the last quarter. Finally, Russell Investments Group Ltd. grew its position 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 in the last quarter. Institutional investors 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.