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

Shares of Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) have been assigned an average rating of "Moderate Buy" from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $9.60.

A number of equities analysts recently commented on OTLK shares. Ascendiant Capital Markets decreased their price objective on shares of Oncobiologics from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Guggenheim reiterated a "buy" rating on shares of Oncobiologics in a research report on Tuesday, May 20th.

Oncobiologics Stock Performance

Oncobiologics stock opened at $2.02 on Friday. The company has a 50 day moving average price of $1.73 and a 200 day moving average price of $1.68. Oncobiologics has a 52 week low of $0.87 and a 52 week high of $9.25. The firm has a market capitalization of $67.81 million, a price-to-earnings ratio of -2.22 and a beta of 0.25.

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

Institutional Investors Weigh In On Oncobiologics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OTLK. Bank of New York Mellon Corp lifted its position in Oncobiologics by 44.8% in the 4th 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 in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Oncobiologics during the 4th quarter valued at $48,000. Russell Investments Group Ltd. raised its holdings in shares of Oncobiologics by 34,936.7% during the 4th quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company's stock valued at $32,000 after purchasing an additional 17,119 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Oncobiologics during the 4th quarter valued at $246,000. Finally, Scotia Capital Inc. raised its holdings in shares of Oncobiologics by 124.4% during the 4th quarter. Scotia Capital Inc. now owns 73,989 shares of the company's stock valued at $140,000 after purchasing an additional 41,023 shares in the last quarter. Hedge funds and other institutional investors own 11.20% of the company's stock.

Oncobiologics Company Profile

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.

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