Oncobiologics, Inc. (NASDAQ:OTLK) Given Average Recommendation of "Moderate Buy" by 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 earned an average rating of "Moderate Buy" from the five research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $9.60.

A number of analysts have weighed in on OTLK shares. Ascendiant Capital Markets cut their price target 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 Stock Performance

NASDAQ OTLK opened at $2.01 on Tuesday. 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 $67.48 million, a P/E ratio of -2.21 and a beta of 0.26. The stock's fifty day moving average is $1.88 and its two-hundred day 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) EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.15. As a group, sell-side analysts forecast that Oncobiologics will post -2.27 EPS for the current year.

Hedge Funds Weigh In On Oncobiologics

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in Oncobiologics in the 4th quarter valued at $246,000. Jane Street Group LLC raised its holdings in shares of Oncobiologics by 133.9% in the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company's stock valued at $50,000 after buying an additional 15,008 shares during the last quarter. Russell Investments Group Ltd. raised 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 valued at $32,000 after buying an additional 17,119 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Oncobiologics during the fourth quarter worth about $48,000. Finally, Scotia Capital Inc. grew 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 buying an additional 41,023 shares during the last quarter. 11.20% of the stock is currently owned by hedge funds and other 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.

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