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 restated by equities researchers at Chardan Capital in a report issued on Friday,Benzinga reports. They presently have a $3.00 price objective on the stock. Chardan Capital's price target would indicate a potential upside of 23.46% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Ascendiant Capital Markets cut their price objective on shares of Oncobiologics from $24.00 to $21.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Guggenheim reaffirmed a "buy" rating on shares of Oncobiologics in a report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Oncobiologics currently has an average rating of "Moderate Buy" and an average price target of $9.60.

Oncobiologics Stock Up 14.1%

NASDAQ:OTLK opened at $2.43 on Friday. The firm has a market capitalization of $81.58 million, a P/E ratio of -2.67 and a beta of 0.26. The company has a fifty day moving average of $1.93 and a 200-day moving average of $1.69. Oncobiologics has a twelve month low of $0.87 and a twelve month high of $8.32.

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

Hedge Funds Weigh In On Oncobiologics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in shares of Oncobiologics in the 4th quarter worth about $246,000. Jane Street Group LLC boosted its holdings in shares of Oncobiologics by 133.9% in 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 during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Oncobiologics by 34,936.7% in the 4th quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company's stock worth $32,000 after buying an additional 17,119 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Oncobiologics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock worth $126,000 after buying an additional 44,063 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Oncobiologics by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 84,671 shares of the company's stock worth $103,000 after buying an additional 25,351 shares during the last quarter. 11.20% of the stock is 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.

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