Oncobiologics (NASDAQ:OTLK) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Oncobiologics from “Sell” to “Hold.” Analyst sentiment is mixed, with two Buy ratings, four Holds, and one Sell; the consensus target price is $4.65.
• OTLK opened at $0.98, well below its 12-month high of $3.39. The company reported a quarterly EPS loss of $0.16, missing estimates, while revenue of $0.13 million fell far short of the $4.39 million consensus forecast.
• Insiders have been buying shares: insiders purchased 8.66 million shares worth approximately $5.16 million over the past 90 days, while institutional investors including Goldman Sachs, AQR Capital, and Russell Investments increased their holdings.

Oncobiologics (NASDAQ:OTLK - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other research analysts also recently weighed in on OTLK. Ascendiant Capital Markets boosted their price target on Oncobiologics from $6.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Weiss Ratings cut Oncobiologics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. BTIG Research raised Oncobiologics from a "neutral" rating to a "buy" rating and set a $4.00 price objective for the company in a research report on Monday, July 27th. Finally, HC Wainwright lifted their price objective on Oncobiologics to $1.60 and gave the company a "neutral" rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Oncobiologics currently has an average rating of "Hold" and an average target price of $4.65.

Oncobiologics Price Performance

Oncobiologics stock opened at $0.98 on Friday. The stock has a market capitalization of $145.11 million, a P/E ratio of -0.83 and a beta of 0.77. Oncobiologics has a 12-month low of $0.16 and a 12-month high of $3.39. The firm's 50-day moving average is $1.25 and its two-hundred day moving average is $0.67.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.04). The firm had revenue of $0.13 million for the quarter, compared to analyst estimates of $4.39 million. As a group, analysts forecast that Oncobiologics will post -0.49 EPS for the current year.

Insider Buying and Selling

In related news, Director Faisal Ghiath Sukhtian bought 95,398 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average cost of $1.05 per share, for a total transaction of $100,167.90. Following the completion of the acquisition, the director owned 220,972 shares in the company, valued at $232,020.60. This trade represents a 75.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ghiath M. Sukhtian purchased 8,539,709 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average cost of $0.59 per share, with a total value of $5,038,428.31. Following the transaction, the director directly owned 22,092,068 shares of the company's stock, valued at $13,034,320.12. The trade was a 63.01% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 8,664,107 shares of company stock valued at $5,162,666. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OTLK. Goldman Sachs Group Inc. boosted its holdings in Oncobiologics by 74.1% in the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock valued at $126,000 after acquiring an additional 44,063 shares during the last quarter. AQR Capital Management LLC grew its position in Oncobiologics by 42.7% during the first 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 during the period. Finally, Russell Investments Group Ltd. increased its stake in Oncobiologics by 865.2% during the second quarter. Russell Investments Group Ltd. now owns 24,477 shares of the company's stock worth $39,000 after acquiring an additional 21,941 shares during the last quarter. 11.20% of the stock is owned by hedge funds and other institutional investors.

About Oncobiologics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.