Oncobiologics, Inc. (NASDAQ:OTLK) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Oncobiologics, Inc. has received a consensus rating of "Hold" from seven ratings firms, with one sell rating, four hold ratings, and two buy ratings.
• The company's stock price has decreased by 2.2%, currently trading at $1.31, with a 52-week low of $0.79 and a high of $6.98.
• Despite missing earnings estimates, Oncobiologics has institutional support, with significant increases in holdings from firms like Russell Investments and Goldman Sachs.

Shares of Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) have earned a consensus recommendation of "Hold" from the seven ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.00.

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a "neutral" rating on shares of Oncobiologics in a research note on Tuesday, September 30th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Oncobiologics in a research note on Wednesday, October 8th. Zacks Research cut Oncobiologics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Chardan Capital reiterated a "neutral" rating and issued a $3.00 price objective on shares of Oncobiologics in a research note on Thursday, August 28th. Finally, Guggenheim cut Oncobiologics from a "buy" rating to a "neutral" rating in a research note on Thursday, August 28th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OTLK. Russell Investments Group Ltd. grew its holdings in Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company's stock worth $39,000 after acquiring an additional 21,941 shares during the period. Goldman Sachs Group Inc. grew its holdings in Oncobiologics by 74.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock worth $126,000 after acquiring an additional 44,063 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Oncobiologics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company's stock worth $103,000 after acquiring an additional 25,351 shares during the period. Institutional investors and hedge funds own 11.20% of the company's stock.

Oncobiologics Stock Down 2.2%

Shares of OTLK opened at $1.31 on Friday. The stock has a 50 day moving average price of $1.43 and a 200 day moving average price of $1.62. The company has a market capitalization of $58.19 million, a price-to-earnings ratio of -2.30 and a beta of 0.56. Oncobiologics has a 52-week low of $0.79 and a 52-week high of $6.98.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.02). The company had revenue of $1.51 million during the quarter, compared to analysts' expectations of $1.66 million. On average, equities analysts anticipate that Oncobiologics will post -2.27 EPS for the current fiscal year.

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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