Oncobiologics, Inc. (NASDAQ:OTLK) Stock Has Average Target Price of $5.20

Oncobiologics, Inc. (NASDAQ:OTLK) has been given a consensus recommendation of “Hold” by the five analysts that are currently covering the company, Marketbeat Ratings 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 target price among brokers that have issued ratings on the stock in the last year is $5.20.

Several research firms recently issued reports on OTLK. Weiss Ratings raised shares of Oncobiologics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. BTIG Research reaffirmed a “buy” rating and set a $4.00 price target on shares of Oncobiologics in a research report on Friday, August 14th. Wall Street Zen downgraded shares of Oncobiologics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, HC Wainwright increased their price target on shares of Oncobiologics to $1.60 and gave the stock a “neutral” rating in a research note on Monday, July 27th.

Insider Activity

In related news, Director Ghiath Sukhtian acquired 2,525,252 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $0.99 per share, with a total value of $2,499,999.48. Following the purchase, the director directly owned 24,617,320 shares of the company’s stock, valued at approximately $24,371,146.80. This represents a 11.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Oncobiologics stock. NewEdge Advisors LLC bought a new position in Oncobiologics, Inc. (NASDAQ:OTLK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,722 shares of the company’s stock, valued at approximately $27,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Oncobiologics Trading Down 5.1%

Shares of NASDAQ:OTLK opened at $0.47 on Thursday. The stock’s 50-day moving average price is $0.60 and its two-hundred day moving average price is $0.67. Oncobiologics has a 12-month low of $0.16 and a 12-month high of $2.54. The firm has a market cap of $113.96 million, a price-to-earnings ratio of -0.61 and a beta of 0.66.

Oncobiologics (NASDAQ:OTLK) last posted 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 firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.97 million. As a group, research analysts forecast that Oncobiologics will post -0.44 earnings per share for the current fiscal year.

About Oncobiologics

Oncobiologics, now known as Outlook Therapeutics, Inc (NASDAQ: OTLK), is a biopharmaceutical company focused on developing and commercializing ophthalmic therapies for retinal diseases. The company was established as Oncobiologics and later changed its name to Outlook Therapeutics to reflect its emphasis on eye-care products.

Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab designed for intravitreal use. The therapy has been studied for vascular retinal conditions, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.