Oncobiologics, Inc. (NASDAQ:OTLK) Receives $5.33 Average Target Price from Brokerages

Oncobiologics, Inc. (NASDAQ:OTLK) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $5.3333.

A number of research analysts recently issued reports on OTLK shares. Ascendiant Capital Markets upped their price target on Oncobiologics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Oncobiologics in a report on Monday, December 29th. Finally, Wall Street Zen lowered Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd.

Hedge Funds Weigh In On Oncobiologics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in Oncobiologics by 74.1% in the first 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 in the last quarter. AQR Capital Management LLC grew its holdings 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 acquiring an additional 25,351 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of 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 acquiring an additional 21,941 shares in the last quarter. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Stock Up 2.5%

Shares of OTLK opened at $0.46 on Tuesday. The stock has a market capitalization of $33.81 million, a P/E ratio of -0.30 and a beta of 0.17. Oncobiologics has a twelve month low of $0.42 and a twelve month high of $3.39. The firm has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.49.

Oncobiologics (NASDAQ:OTLK) last released its quarterly earnings data on Friday, December 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $4.65 million during the quarter, compared to analysts’ expectations of $5.85 million. Sell-side analysts expect that Oncobiologics will post -2.27 EPS for the current fiscal year.

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.