Oncobiologics (NASDAQ:OTLK) Stock Rating Upgraded by Wall Street Zen

Oncobiologics (NASDAQ:OTLK) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other equities research analysts have also weighed in on OTLK. BTIG Research upgraded shares of Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a report on Monday, July 27th. HC Wainwright boosted 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 boosted their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Weiss Ratings downgraded Oncobiologics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Oncobiologics currently has an average rating of “Hold” and an average price target of $4.65.

Oncobiologics Stock Performance

Oncobiologics stock opened at $0.98 on Friday. The firm has a market capitalization of $145.11 million, a P/E ratio of -0.83 and a beta of 0.82. The business has a 50-day moving average of $1.25 and a 200-day moving average of $0.67. Oncobiologics has a 1 year low of $0.16 and a 1 year high of $3.39.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly 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 company had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. Research analysts anticipate that Oncobiologics will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Oncobiologics news, Director Faisal Ghiath Sukhtian bought 95,398 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average cost of $1.05 per share, with a total value of $100,167.90. Following the purchase, the director owned 220,972 shares in the company, valued at $232,020.60. This trade represents a 75.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ghiath M. Sukhtian bought 8,539,709 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $0.59 per share, for a total transaction of $5,038,428.31. Following the completion of the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 8,664,107 shares of company stock valued at $5,162,666. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oncobiologics

Several institutional investors have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. boosted its stake in Oncobiologics by 865.2% in the 2nd 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. AQR Capital Management LLC raised its stake in shares of Oncobiologics by 42.7% in the 1st 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 period. Finally, Goldman Sachs Group Inc. lifted its holdings 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 purchasing an additional 44,063 shares in the last quarter. 11.20% of the stock is owned by institutional investors.

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.