Oncobiologics, Inc. (NASDAQ:OTLK) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $9.60.

OTLK has been the subject of a number of recent analyst reports. Ascendiant Capital Markets lowered their target price on shares of Oncobiologics from $24.00 to $21.00 and set a "buy" rating for the company in a report on Friday, June 6th. Guggenheim restated a "buy" rating on shares of Oncobiologics in a research report on Tuesday, May 20th.

Oncobiologics Trading Up 12.1%

Shares of OTLK traded up $0.25 during trading hours on Friday, reaching $2.32. The company had a trading volume of 1,216,015 shares, compared to its average volume of 848,499. The firm has a 50 day simple moving average of $1.74 and a 200-day simple moving average of $1.69. The company has a market capitalization of $77.88 million, a price-to-earnings ratio of -2.55 and a beta of 0.25. Oncobiologics has a 12-month low of $0.87 and a 12-month high of $9.25.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.15. Sell-side analysts forecast that Oncobiologics will post -2.27 earnings per share for the current year.

Hedge Funds Weigh In On Oncobiologics

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in shares of Oncobiologics by 44.8% in the fourth quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company's stock worth $56,000 after buying an additional 9,211 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Oncobiologics in the fourth quarter worth about $48,000. Russell Investments Group Ltd. boosted its holdings in shares of Oncobiologics by 34,936.7% in the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company's stock worth $32,000 after buying an additional 17,119 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Oncobiologics during the fourth quarter worth approximately $246,000. Finally, Scotia Capital Inc. boosted its holdings in shares of Oncobiologics by 124.4% during the fourth quarter. Scotia Capital Inc. now owns 73,989 shares of the company's stock worth $140,000 after purchasing an additional 41,023 shares during the period. Institutional investors own 11.20% of the company's stock.

About Oncobiologics

Outlook Therapeutics, Inc, operates as a clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, an ophthalmic formulation of bevacizumab product candidate that is in Phase-III clinical trial for the treatment of wet age-related macular degeneration and other retina diseases.