Oncobiologics (NASDAQ:OTLK) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Oncobiologics (NASDAQ:OTLK) issued its quarterly earnings data on Friday. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04), Zacks reports. The company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million.

Oncobiologics Stock Down 2.2%

NASDAQ:OTLK traded down $0.01 during mid-day trading on Friday, hitting $0.23. 2,550,914 shares of the company traded hands, compared to its average volume of 5,062,335. The stock’s fifty day moving average price is $0.28 and its 200-day moving average price is $0.84. Oncobiologics has a one year low of $0.16 and a one year high of $3.39. The firm has a market cap of $27.57 million, a price-to-earnings ratio of -0.19 and a beta of 0.32.

Institutional Trading of Oncobiologics

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in shares of 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. AQR Capital Management LLC boosted its stake in shares of Oncobiologics by 42.7% in the first 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. boosted its stake in shares of Oncobiologics by 865.2% in the second 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 during the period. Institutional investors own 11.20% of the company’s stock.

Wall Street Analyst Weigh In

OTLK has been the subject of several research analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Chardan Capital reissued a “neutral” rating on shares of Oncobiologics in a report on Wednesday, February 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncobiologics in a report on Friday, March 27th. Finally, Ascendiant Capital Markets cut their price target on Oncobiologics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.50.

About Oncobiologics

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.