Oncobiologics (NASDAQ:OTLK) Stock Price Expected to Rise, Ascendiant Capital Markets Analyst Says

Key Points

• Ascendiant Capital Markets raised its price target for Oncobiologics from $8 to $10 and kept a "buy" rating, implying about a 397.5% upside from the prior close.
• Analyst coverage is mixed — one Buy, four Hold and one Sell — leaving a consensus rating of Hold and a consensus target price of $7.
• Oncobiologics is a small-cap (~$89M) clinical-stage biosimilars developer trading near $2; it slightly beat quarterly EPS estimates but missed revenue, and analysts forecast a negative annual EPS of -2.27.

Oncobiologics (NASDAQ:OTLK - Get Free Report) had its price target hoisted by stock analysts at Ascendiant Capital Markets from $8.00 to $10.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Ascendiant Capital Markets' price target would indicate a potential upside of 397.51% from the company's previous close.

OTLK has been the topic of several other reports. Guggenheim lowered shares of Oncobiologics from a "buy" rating to a "neutral" rating in a research report on Thursday, August 28th. Chardan Capital restated a "neutral" rating and issued a $3.00 price target on shares of Oncobiologics in a report on Thursday, August 28th. Wall Street Zen raised Oncobiologics from a "strong sell" rating to a "hold" rating in a report on Saturday. HC Wainwright reiterated a "neutral" rating on shares of Oncobiologics in a research report on Tuesday, September 30th. Finally, Zacks Research cut Oncobiologics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.00.

Oncobiologics Stock Performance

Oncobiologics stock opened at $2.01 on Monday. The company has a market cap of $89.28 million, a P/E ratio of -1.32 and a beta of 0.17. Oncobiologics has a one year low of $0.79 and a one year high of $3.39. The business has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.66.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings results on Friday, December 19th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.01. The company had revenue of $4.65 million during the quarter, compared to analysts' expectations of $5.85 million. Sell-side analysts predict that Oncobiologics will post -2.27 EPS for the current year.

Institutional Trading of Oncobiologics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in Oncobiologics by 865.2% during the 2nd 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. AQR Capital Management LLC lifted 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. Finally, 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 purchasing an additional 44,063 shares during the last quarter. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

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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