Oncobiologics (NASDAQ:OTLK) Earns Neutral Rating from Chardan Capital

Key Points

• Oncobiologics has received a restated "neutral" rating from Chardan Capital, with a price target of $3.00, indicating a potential upside of 23.46% from its previous close.
• Recent quarterly earnings reported a loss of $0.44 EPS, missing analysts' expectations, with revenues also falling short of estimates.
• Hedge funds have shown increased activity, with notable investments including Renaissance Technologies and Jane Street Group, significantly boosting their holdings in Oncobiologics.

Oncobiologics (NASDAQ:OTLK - Get Free Report)'s stock had its "neutral" rating reiterated by stock analysts at Chardan Capital in a report released on Friday,Benzinga reports. They presently have a $3.00 price target on the stock. Chardan Capital's target price would indicate a potential upside of 26.85% from the stock's current price.

A number of other equities research analysts have also recently commented on the stock. Ascendiant Capital Markets reduced their price target on shares of Oncobiologics from $24.00 to $21.00 and set a "buy" rating for the company in a report on Friday, June 6th. Guggenheim restated a "buy" rating on shares of Oncobiologics in a research note on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $9.60.

Oncobiologics Trading Down 10.1%

OTLK stock traded down $0.2650 during mid-day trading on Friday, reaching $2.3650. The company's stock had a trading volume of 1,598,334 shares, compared to its average volume of 780,781. Oncobiologics has a 12 month low of $0.87 and a 12 month high of $8.32. The business's 50 day moving average price is $1.97 and its 200 day moving average price is $1.70. The company has a market cap of $79.39 million, a price-to-earnings ratio of -4.13 and a beta of 0.26.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last posted 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 business had revenue of $1.51 million during the quarter, compared to analysts' expectations of $1.66 million. As a group, equities analysts expect that Oncobiologics will post -2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OTLK. Jane Street Group LLC lifted its position 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 buying an additional 15,008 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Oncobiologics by 34,936.7% during the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company's stock valued at $32,000 after acquiring an additional 17,119 shares during the last quarter. AQR Capital Management LLC lifted 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. Goldman Sachs Group Inc. boosted its position in Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock worth $126,000 after purchasing an additional 44,063 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Oncobiologics in the 4th quarter valued at $246,000. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

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.