Oncobiologics, Inc. (NASDAQ:OTLK) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Analysts give Oncobiologics a “Hold” consensus rating: Of five analysts, one recommends selling, two recommend holding and two recommend buying. The average 12-month price target is $5.20.
• Insiders increased their positions: Director Ghiath Sukhtian bought roughly 2.53 million shares for about $2.5 million, while director Faisal Ghiath Sukhtian purchased approximately $100,000 in shares.
• Quarterly results fell short of expectations: The company reported a loss of $0.09 per share versus the $0.08 expected and revenue of $0.01 million compared with estimates of $0.97 million.

Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) has received an average rating of "Hold" from the five analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $5.20.

A number of equities research analysts have weighed in on the company. Wall Street Zen cut Oncobiologics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. BTIG Research reiterated a "buy" rating and issued a $4.00 price target on shares of Oncobiologics in a research report on Friday, August 14th. 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. Ascendiant Capital Markets upped their target price on shares of Oncobiologics from $6.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Finally, Weiss Ratings upgraded shares of Oncobiologics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 12th.

Insider Activity at Oncobiologics

In related news, Director Ghiath Sukhtian bought 2,525,252 shares of the stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $0.99 per share, for a total transaction of $2,499,999.48. Following the purchase, the director owned 24,617,320 shares of the company's stock, valued at $24,371,146.80. This trade represents a 11.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Faisal Ghiath Sukhtian bought 95,398 shares of the company's stock in a transaction dated Wednesday, July 29th. The stock was bought at an average cost of $1.05 per share, for a total transaction of $100,167.90. Following the acquisition, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Oncobiologics

A hedge fund recently bought a new stake in Oncobiologics stock. NewEdge Advisors LLC purchased a new position in shares of Oncobiologics, Inc. (NASDAQ:OTLK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,722 shares of the company's stock, valued at approximately $27,000. Institutional investors own 11.20% of the company's stock.

Oncobiologics Trading Up 3.1%

Shares of NASDAQ:OTLK opened at $0.59 on Friday. The firm has a 50 day simple moving average of $0.75 and a 200-day simple moving average of $0.75. Oncobiologics has a twelve month low of $0.16 and a twelve month high of $2.54. The company has a market capitalization of $144.37 million, a PE ratio of -0.77 and a beta of 0.66.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). The company had revenue of $0.01 million for the quarter, compared to analysts' expectations of $0.97 million. As a group, equities research analysts predict that Oncobiologics will post -0.45 EPS for the current fiscal year.

Oncobiologics Company Profile

Oncobiologics, Inc, now known as Outlook Therapeutics, Inc NASDAQ: OTLK, is a biopharmaceutical company focused on developing and commercializing ophthalmic medicines. The company specializes in biologic therapies intended to address diseases affecting the eye, with an emphasis on retinal disorders.

The company's lead product is ONS-5010, an ophthalmic formulation of bevacizumab developed for intravitreal treatment of wet age-related macular degeneration and other retinal conditions.

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