HC Wainwright Reaffirms Neutral Rating for Oncobiologics (NASDAQ:OTLK)

Key Points

• HC Wainwright has reaffirmed a "neutral" rating for Oncobiologics, while other analysts, including Guggenheim, have also adjusted their ratings to neutral or lower.
• Oncobiologics' stock price has significantly declined, with a current trading price of $1.09, down from a 12-month high of $8.32.
• The company reported a loss of ($0.44) earnings per share for the last quarter, which was below analysts' expectations of ($0.42).

Oncobiologics (NASDAQ:OTLK - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at HC Wainwright in a research report issued on Friday, MarketBeat reports.

Several other research analysts have also recently commented on the stock. Zacks Research cut shares of Oncobiologics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Ascendiant Capital Markets decreased 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. Chardan Capital restated a "neutral" rating and set a $3.00 price target on shares of Oncobiologics in a report on Thursday, August 28th. Finally, Guggenheim cut shares of Oncobiologics from a "buy" rating to a "neutral" rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $9.60.

Oncobiologics Trading Up 2.2%

Shares of OTLK traded up $0.02 during midday trading on Friday, hitting $0.87. The stock had a trading volume of 7,695,290 shares, compared to its average volume of 1,474,128. Oncobiologics has a fifty-two week low of $0.79 and a fifty-two week high of $8.32. The business has a 50-day simple moving average of $2.01 and a two-hundred day simple moving average of $1.71. The firm has a market cap of $38.65 million, a P/E ratio of -1.53 and a beta of 0.49.

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

Hedge Funds Weigh In On Oncobiologics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company's stock valued at $39,000 after acquiring an additional 21,941 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Oncobiologics by 74.1% during the 1st 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 in the last quarter. AQR Capital Management LLC raised its stake 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 valued at $103,000 after acquiring an additional 25,351 shares in the last quarter. Jane Street Group LLC boosted its position in Oncobiologics by 133.9% during the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company's stock worth $50,000 after purchasing an additional 15,008 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Oncobiologics during the fourth quarter valued at approximately $246,000. Institutional investors own 11.20% of the company's stock.

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.