Oncobiologics (NASDAQ:OTLK) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Oncobiologics (NASDAQ:OTLK) from a sell rating to a hold rating in a report released on Saturday morning.

A number of other research analysts also recently issued reports on the company. HC Wainwright upped their price objective on Oncobiologics to $1.60 and gave the company a “neutral” rating in a research note on Monday, July 27th. BTIG Research upgraded Oncobiologics from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Monday, July 27th. Weiss Ratings downgraded shares of Oncobiologics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Ascendiant Capital Markets increased their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.65.

Oncobiologics Stock Down 6.1%

Oncobiologics stock opened at $0.98 on Friday. Oncobiologics has a 52 week low of $0.16 and a 52 week high of $3.39. The company’s 50 day moving average price is $1.25 and its two-hundred day moving average price is $0.67. The stock has a market cap of $145.11 million, a P/E ratio of -0.83 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $4.39 million. On average, equities analysts anticipate that Oncobiologics will post -0.49 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ghiath M. Sukhtian bought 8,539,709 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the completion of the transaction, the director directly owned 22,092,068 shares of the company’s stock, valued at $13,034,320.12. This represents a 63.01% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the purchase, the director owned 220,972 shares of the company’s stock, valued at approximately $232,020.60. This trade represents a 75.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 8,664,107 shares of company stock valued at $5,162,666 over the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Oncobiologics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OTLK. Russell Investments Group Ltd. increased 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 purchasing an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Oncobiologics by 74.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company’s stock valued at $126,000 after buying an additional 44,063 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Oncobiologics by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company’s stock worth $103,000 after buying an additional 25,351 shares during the period. Institutional investors own 11.20% of the company’s stock.

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.