Analysts Set Oncobiologics, Inc. (NASDAQ:OTLK) PT at $6.50

Shares of Oncobiologics, Inc. (NASDAQ:OTLK) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $6.50.

A number of equities analysts recently issued reports on the company. HC Wainwright restated a “neutral” rating on shares of Oncobiologics in a report on Tuesday, September 30th. Guggenheim lowered shares of Oncobiologics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncobiologics in a research note on Monday. Zacks Research lowered shares of Oncobiologics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 27th. Finally, Ascendiant Capital Markets dropped their target price on shares of Oncobiologics from $21.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd.

Oncobiologics Price Performance

Oncobiologics stock opened at $1.98 on Monday. The firm has a market capitalization of $87.95 million, a P/E ratio of -3.47 and a beta of 0.17. Oncobiologics has a 1-year low of $0.79 and a 1-year high of $3.39. The company’s 50-day moving average is $1.54 and its 200 day moving average is $1.65.

Institutional Investors Weigh In On Oncobiologics

Several hedge funds have recently made changes to their positions in OTLK. Russell Investments Group Ltd. increased its stake in shares of Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company’s stock valued at $39,000 after buying an additional 21,941 shares during the period. Goldman Sachs Group Inc. lifted 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 acquiring an additional 44,063 shares during the period. Finally, AQR Capital Management LLC grew its holdings in 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 in the last quarter. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

Oncobiologics Company Profile

Outlook Therapeutics, Inc, operates as a clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab product candidate that is in Phase-III clinical trial for the treatment of wet age-related macular degeneration and other retina diseases.