Oncobiologics (NASDAQ:OTLK) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright raised its price target for Oncobiologics from $0.50 to $1.60 while maintaining a “neutral” rating, implying 42.22% upside from the prior close.
• Analyst views remain mixed: BTIG Research upgraded the stock to “buy” with a $4 target, while the broader consensus is “hold” with an average target price of $4.65.
• Oncobiologics reported a quarterly loss of $0.16 per share versus the $0.12 consensus estimate and revenue of just $0.13 million versus expectations of $4.39 million; meanwhile, a company director bought 8.54 million shares at an average price of $0.59.

Oncobiologics (NASDAQ:OTLK - Get Free Report) had its price objective upped by equities research analysts at HC Wainwright from $0.50 to $1.60 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. HC Wainwright's price target would suggest a potential upside of 42.22% from the stock's previous close.

Other analysts also recently issued research reports about the company. BTIG Research raised Oncobiologics from a "neutral" rating to a "buy" rating and set a $4.00 price target on the stock in a report on Monday. Wall Street Zen lowered Oncobiologics from a "hold" rating to a "sell" rating in a research report on Saturday, July 18th. Weiss Ratings upgraded Oncobiologics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 24th. Finally, Ascendiant Capital Markets boosted their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Two analysts have 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 MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.65.

Oncobiologics Stock Performance

Shares of NASDAQ OTLK traded down $0.28 during midday trading on Monday, hitting $1.12. The company's stock had a trading volume of 29,425,041 shares, compared to its average volume of 12,015,615. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $3.39. The firm's fifty day moving average price is $1.18 and its 200-day moving average price is $0.65. The firm has a market cap of $167.16 million, a P/E ratio of -0.95 and a beta of 0.77.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last released its quarterly earnings data 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 company had revenue of $0.13 million for the quarter, compared to analysts' expectations of $4.39 million. As a group, research analysts predict that Oncobiologics will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Oncobiologics news, Director Ghiath M. Sukhtian bought 8,539,709 shares of the business's stock in a transaction on Thursday, May 28th. The shares were purchased at an average price of $0.59 per share, with a total value of $5,038,428.31. Following the purchase, the director directly owned 22,092,068 shares of the company's stock, valued at approximately $13,034,320.12. The trade was a 63.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oncobiologics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position 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 buying an additional 44,063 shares in the last quarter. AQR Capital Management LLC lifted 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 worth $103,000 after acquiring an additional 25,351 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Oncobiologics by 865.2% in 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. 11.20% of the stock is currently owned by 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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