Oncobiologics, Inc. (NASDAQ:OTLK) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Oncobiologics, based on one sell, two hold, and two buy ratings. The average 12-month price target is $5.20, although individual targets range from $1.60 to $10.00.
• The stock opened at $0.64, well below its 52-week high of $2.54, while the company’s latest quarterly results missed expectations with a loss of $0.09 per share versus a forecasted loss of $0.08 and revenue of just $0.01 million.
• Company insiders recently increased their holdings through share purchases, including a director’s acquisition of 2.53 million shares for approximately $2.5 million. Insiders own 1.8% of the company, while institutional investors own 11.2%.

Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) has been assigned a consensus rating of "Hold" from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $5.20.

A number of analysts have recently commented on the company. Wall Street Zen cut Oncobiologics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Ascendiant Capital Markets boosted their price objective on shares of Oncobiologics from $6.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, June 11th. HC Wainwright upped their target price on shares of Oncobiologics to $1.60 and gave the company a "neutral" rating in a research note on Monday, July 27th. BTIG Research reiterated a "buy" rating and issued a $4.00 target price on shares of Oncobiologics in a report on Friday, August 14th. Finally, Weiss Ratings raised shares of Oncobiologics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 12th.

Insider Buying and Selling at Oncobiologics

In other Oncobiologics news, Director Ghiath Sukhtian acquired 2,525,252 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were acquired at an average price of $0.99 per share, with a total value 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 represents a 11.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Faisal Ghiath Sukhtian bought 95,398 shares of Oncobiologics stock in a transaction on Wednesday, July 29th. The shares were acquired at an average price of $1.05 per share, for a total transaction of $100,167.90. Following the completion of the acquisition, the director owned 220,972 shares of the company's stock, valued at approximately $232,020.60. This represents a 75.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Oncobiologics

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its stake 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 purchasing an additional 25,351 shares in the last quarter. 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 valued at $126,000 after buying an additional 44,063 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Oncobiologics by 865.2% in 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 in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Oncobiologics in the second quarter valued at approximately $27,000. Institutional investors own 11.20% of the company's stock.

Oncobiologics Stock Performance

Shares of Oncobiologics stock opened at $0.64 on Wednesday. The firm has a fifty day moving average of $1.05 and a two-hundred day moving average of $0.73. The stock has a market capitalization of $155.93 million, a price-to-earnings ratio of -0.83 and a beta of 0.74. Oncobiologics has a 52 week low of $0.16 and a 52 week high of $2.54.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.97 million. As a group, research analysts forecast that Oncobiologics will post -0.47 EPS for the current fiscal year.

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.

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