Oncobiologics, Inc. (NASDAQ:OTLK) Stock Has Consensus Target Price of $5.20 According to Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Oncobiologics (now Outlook Therapeutics), with two buys, two holds and one sell. The average 12-month price target is $5.20.
• Director Ghiath Sukhtian bought 2.53 million shares at $0.99 each, increasing his ownership by 11.43%; insiders own 1.80% of the company, while institutions own 11.20%.
• OTLK shares opened at $0.54, well below the analyst target, but the company recently reported a quarterly loss of $0.09 per share and revenue of just $0.01 million, both weaker than expectations.

Shares of Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) have been assigned an average recommendation of "Hold" from the five analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $5.20.

A number of equities research analysts have commented on OTLK shares. HC Wainwright raised their price target on shares of Oncobiologics to $1.60 and gave the stock a "neutral" rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Oncobiologics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 12th. BTIG Research reissued a "buy" rating and set a $4.00 price objective on shares of Oncobiologics in a research report on Friday, August 14th. Finally, Wall Street Zen downgraded Oncobiologics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th.

Insider Buying and Selling

In other news, Director Ghiath Sukhtian purchased 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 cost of $0.99 per share, with a total value of $2,499,999.48. Following the purchase, the director owned 24,617,320 shares in the company, 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 SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Oncobiologics stock. NewEdge Advisors LLC bought a new position in shares of Oncobiologics, Inc. (NASDAQ:OTLK - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 Stock Performance

Shares of OTLK opened at $0.54 on Thursday. The firm has a market cap of $132.66 million, a PE ratio of -0.71 and a beta of 0.66. Oncobiologics has a 52-week low of $0.16 and a 52-week high of $2.54. The business's 50 day moving average price is $0.61 and its two-hundred day moving average price is $0.67.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.97 million. Research analysts predict that Oncobiologics will post -0.45 EPS for the current fiscal year.

About Oncobiologics

Oncobiologics, now known as Outlook Therapeutics, Inc NASDAQ: OTLK, is a biopharmaceutical company focused on developing and commercializing ophthalmic therapies for retinal diseases. The company was established as Oncobiologics and later changed its name to Outlook Therapeutics to reflect its emphasis on eye-care products.

Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab designed for intravitreal use. The therapy has been studied for vascular retinal conditions, including wet age-related macular degeneration, diabetic macular edema and retinal vein occlusion.

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