Oncobiologics, Inc. (NASDAQ:OTLK) Receives Average Rating of "Moderate Buy" from Analysts

Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the five analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $9.60.

OTLK has been the topic of a number of recent analyst reports. Ascendiant Capital Markets cut their price objective on Oncobiologics from $24.00 to $21.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Guggenheim reissued a "buy" rating on shares of Oncobiologics in a research report on Tuesday, May 20th.

Oncobiologics Trading Up 2.5%

NASDAQ:OTLK traded up $0.05 during mid-day trading on Friday, reaching $2.07. The stock had a trading volume of 1,585,048 shares, compared to its average volume of 744,613. The business's 50 day moving average is $1.74 and its 200 day moving average is $1.69. Oncobiologics has a fifty-two week low of $0.87 and a fifty-two week high of $9.25.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OTLK. Renaissance Technologies LLC bought a new position in shares of Oncobiologics during the 4th quarter worth about $246,000. Goldman Sachs Group Inc. lifted its stake in shares of 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 during the period. Scotia Capital Inc. lifted its stake in shares of Oncobiologics by 124.4% in the fourth quarter. Scotia Capital Inc. now owns 73,989 shares of the company's stock valued at $140,000 after buying an additional 41,023 shares during the period. Commonwealth Equity Services LLC acquired a new stake in Oncobiologics during the fourth quarter worth about $48,000. Finally, AQR Capital Management LLC increased its stake in Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company's stock valued at $103,000 after acquiring an additional 25,351 shares during the period. 11.20% of the stock is owned by institutional investors.

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.