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

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

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

Insider Buying and Selling

In related news, Director Ghiath Sukhtian purchased 2,525,252 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $0.99 per share, with a total value of $2,499,999.48. Following the completion of the transaction, the director owned 24,617,320 shares of the company’s stock, valued at $24,371,146.80. This represents a 11.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Faisal Ghiath Sukhtian purchased 95,398 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average price of $1.05 per share, with a total value of $100,167.90. Following the purchase, the director owned 220,972 shares of the company’s stock, valued at approximately $232,020.60. The trade was a 75.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Oncobiologics stock. NewEdge Advisors LLC bought a new stake in Oncobiologics, Inc. (NASDAQ:OTLK) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 16,722 shares of the company’s stock, valued at approximately $27,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

Oncobiologics Trading Down 3.9%

OTLK opened at $0.57 on Friday. The company has a fifty day simple moving average of $0.74 and a 200 day simple moving average of $0.76. The firm has a market cap of $139.25 million, a price-to-earnings ratio of -0.74 and a beta of 0.66. Oncobiologics has a twelve month low of $0.16 and a twelve month high of $2.54.

Oncobiologics (NASDAQ:OTLK) last issued 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 business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.97 million. On average, analysts forecast that Oncobiologics will post -0.45 earnings per share for the current fiscal year.

Oncobiologics Company Profile

Oncobiologics, Inc is a biopharmaceutical company that changed its name to Outlook Therapeutics, Inc The company focuses on developing and commercializing ophthalmic therapies for eye diseases, with an emphasis on treatments that address significant unmet medical needs.

Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab developed under the brand name LYTENAVA (bevacizumab-vikg). The product is intended for intravitreal use in retinal diseases, including neovascular age-related macular degeneration, diabetic macular edema and retinal vein occlusion.