Oncobiologics, Inc. (NASDAQ:OTLK) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Oncobiologics has a consensus analyst rating of “Hold”, based on seven ratings firms. The coverage breakdown includes one sell, five hold, and one buy, with an average 12-month price target of $6.50.
• The company’s latest earnings report missed expectations, posting ($0.16) EPS versus the expected ($0.12) and revenue of just $0.13 million versus the $4.39 million estimate. Analysts currently expect the company to lose $0.48 per share for the full year.
• Insider and institutional activity has been notable, with Director Ghiath M. Sukhtian buying 8.54 million shares in late May. Meanwhile, hedge funds and other institutions own 11.2% of the stock, and several firms recently increased their holdings.

Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) has been given a consensus rating of "Hold" by the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $6.50.

OTLK has been the subject of several analyst reports. Ascendiant Capital Markets upped their price objective on Oncobiologics from $6.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Wall Street Zen downgraded Oncobiologics from a "hold" rating to a "sell" rating in a research note on Saturday. BTIG Research reissued a "neutral" rating on shares of Oncobiologics in a report on Monday, May 18th. Finally, Weiss Ratings upgraded Oncobiologics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 24th.

Oncobiologics Stock Performance

Shares of Oncobiologics stock opened at $1.38 on Tuesday. The company has a market capitalization of $205.05 million, a P/E ratio of -1.18 and a beta of 0.77. Oncobiologics has a 1 year low of $0.16 and a 1 year high of $3.39. The company's fifty day moving average is $1.09 and its two-hundred day moving average is $0.65.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last announced its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. As a group, equities analysts expect that Oncobiologics will post -0.48 earnings per share for the current year.

Insider Transactions at Oncobiologics

In other news, Director Ghiath M. Sukhtian acquired 8,539,709 shares of the company's stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the purchase, the director owned 22,092,068 shares of the company's stock, valued at $13,034,320.12. This represents a 63.01% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Oncobiologics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised 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 purchasing an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock valued at $126,000 after purchasing an additional 44,063 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Oncobiologics by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company's stock valued at $103,000 after purchasing an additional 25,351 shares in the last quarter. Hedge funds and other institutional investors own 11.20% of the company's stock.

Oncobiologics Company Profile

Oncobiologics, Inc is a clinical-stage biopharmaceutical company specializing in the development of biosimilar therapeutics for cancer and autoimmune diseases. Leveraging recombinant DNA technology and advanced formulation platforms, the company aims to create high-quality, cost-effective alternatives to originator biologic drugs. Oncobiologics' research focus includes monoclonal antibodies and growth factors that support oncology treatment and immunomodulation.

Founded in 2005 and headquartered in Marlborough, Massachusetts, Oncobiologics maintains research facilities in the Greater Boston area and an integrated manufacturing site in Hyderabad, India, through its wholly owned subsidiary.

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