Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report)'s share price traded up 4.5% during trading on Monday . The stock traded as high as $2.00 and last traded at $1.86. 1,434,782 shares were traded during mid-day trading, an increase of 72% from the average session volume of 833,658 shares. The stock had previously closed at $1.78.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. Ascendiant Capital Markets dropped their target price on Oncobiologics from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Guggenheim reiterated a "buy" rating on shares of Oncobiologics in a research note on Tuesday, May 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $9.60.
View Our Latest Report on Oncobiologics
Oncobiologics Stock Up 2.5%
The company has a market capitalization of $69.49 million, a price-to-earnings ratio of -2.27 and a beta of 0.25. The company has a 50 day simple moving average of $1.73 and a 200 day simple moving average of $1.68.
Oncobiologics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.15. On average, research analysts forecast that Oncobiologics, Inc. will post -2.27 EPS for the current fiscal year.
Institutional Investors Weigh In On Oncobiologics
Several institutional investors and hedge funds have recently modified their holdings of OTLK. Bank of New York Mellon Corp boosted its holdings in Oncobiologics by 44.8% in the fourth quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company's stock valued at $56,000 after purchasing an additional 9,211 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Oncobiologics in the fourth quarter valued at about $246,000. Jane Street Group LLC boosted its holdings in Oncobiologics by 133.9% in the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company's stock valued at $50,000 after purchasing an additional 15,008 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Oncobiologics by 34,936.7% in the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company's stock valued at $32,000 after purchasing an additional 17,119 shares during the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in Oncobiologics in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 11.20% of the company's stock.
About Oncobiologics
(
Get Free Report)
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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