Oncobiologics (NASDAQ:OTLK) Raised to “Hold” at Wall Street Zen

Oncobiologics (NASDAQ:OTLK) was upgraded by Wall Street Zen from a “strong sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts have also recently issued research reports about the stock. Ascendiant Capital Markets reduced their price objective on shares of Oncobiologics from $21.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. HC Wainwright reiterated a “neutral” rating on shares of Oncobiologics in a report on Tuesday, September 30th. Zacks Research cut Oncobiologics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Guggenheim downgraded Oncobiologics from a “buy” rating to a “neutral” rating in a report on Thursday, August 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Oncobiologics in a research report on Monday, December 8th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.50.

Oncobiologics Price Performance

OTLK opened at $2.01 on Friday. The business has a fifty day moving average price of $1.64 and a 200 day moving average price of $1.66. Oncobiologics has a 12 month low of $0.79 and a 12 month high of $3.39. The stock has a market capitalization of $89.28 million, a price-to-earnings ratio of -1.32 and a beta of 0.17.

Oncobiologics (NASDAQ:OTLK) last posted its earnings results on Friday, December 19th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $4.65 million during the quarter, compared to analysts’ expectations of $5.85 million. On average, research analysts anticipate that Oncobiologics will post -2.27 earnings per share for the current year.

Institutional Trading of Oncobiologics

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock worth $126,000 after buying an additional 44,063 shares during the period. AQR Capital Management LLC lifted 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 worth $103,000 after purchasing an additional 25,351 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Oncobiologics by 865.2% during 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 period. 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.