Oncobiologics, Inc. (NASDAQ:OTLK) Receives $9.60 Consensus Target Price from Brokerages

Key Points

• Oncobiologics, Inc. has received an average rating of "Moderate Buy" from five research firms, with one hold rating and four buy ratings.
• The average 1-year price target among analysts for Oncobiologics is $9.60, which is significantly higher than its current trading price.
• Recent hedge fund activity includes significant increases in holdings by firms like Jane Street Group and Russell Investments, indicating growing institutional interest in the stock.

Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the five brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.60.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OTLK. Renaissance Technologies LLC bought a new position in Oncobiologics during the fourth quarter valued at about $246,000. Jane Street Group LLC increased its stake in shares of Oncobiologics by 133.9% during the 4th quarter. Jane Street Group LLC now owns 26,218 shares of the company's stock worth $50,000 after purchasing an additional 15,008 shares during the last quarter. Russell Investments Group Ltd. increased its stake 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 worth $32,000 after purchasing an additional 17,119 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Oncobiologics in the 4th quarter worth approximately $48,000. Finally, Scotia Capital Inc. grew its holdings in Oncobiologics by 124.4% during the fourth 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 during the period. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

Oncobiologics Stock Up 0.3%

Oncobiologics stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.85. 360,053 shares of the company's stock were exchanged, compared to its average volume of 686,491. Oncobiologics has a fifty-two week low of $0.87 and a fifty-two week high of $8.32. The firm has a market capitalization of $61.94 million, a P/E ratio of -2.03 and a beta of 0.26. The company's 50 day simple moving average is $1.90 and its 200-day simple moving average is $1.69.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last released its quarterly earnings results 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. Research analysts expect that Oncobiologics will post -2.27 EPS for the current year.

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.