Oncobiologics, Inc. (NASDAQ:OTLK) Given Consensus Rating of “Hold” by Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have been assigned a consensus rating of “Hold” from the five brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.20.

OTLK has been the subject of a number of analyst reports. Ascendiant Capital Markets boosted their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, June 11th. HC Wainwright lifted their price target on shares of Oncobiologics to $1.60 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Wall Street Zen lowered shares of Oncobiologics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Finally, BTIG Research restated a “buy” rating and set a $4.00 target price on shares of Oncobiologics in a report on Friday, August 14th.

Insider Buying and Selling at Oncobiologics

In other news, Director Faisal Ghiath Sukhtian bought 95,398 shares of the stock in a transaction on Wednesday, July 29th. The stock was purchased at an average price of $1.05 per share, for a total transaction of $100,167.90. Following the acquisition, the director owned 220,972 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Also, Director Ghiath M. Sukhtian purchased 2,525,252 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average cost of $0.99 per share, for a total transaction of $2,499,999.48. Following the purchase, the director directly owned 24,617,320 shares in the company, valued at approximately $24,371,146.80. This trade represents a 11.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Oncobiologics

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in shares of Oncobiologics in the second quarter valued at approximately $27,000. Russell Investments Group Ltd. grew its position in Oncobiologics by 865.2% in the second 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 in the last quarter. AQR Capital Management LLC grew its position in Oncobiologics by 42.7% in the first 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 in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in 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. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Price Performance

Shares of NASDAQ:OTLK opened at $0.66 on Wednesday. The company has a 50 day moving average of $1.01 and a 200-day moving average of $0.73. The stock has a market cap of $160.68 million, a price-to-earnings ratio of -0.86 and a beta of 0.74. Oncobiologics has a one year low of $0.16 and a one year high of $2.54.

Oncobiologics (NASDAQ:OTLK) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.97 million. Equities research analysts anticipate that Oncobiologics will post -0.47 earnings per share for the current 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.