Oncobiologics (NASDAQ:OTLK) Upgraded to Buy at BTIG Research

Key Points

• BTIG Research upgraded Oncobiologics to “Buy” from “Neutral” and set a $4.00 price target, implying approximately 184.7% upside from the reported $1.41 share price.
• Analyst sentiment remains mixed: two analysts rate the stock Buy, four Hold and one Sell, producing a consensus “Hold” rating with an average price target of $5.67.
• Oncobiologics reported a quarterly loss of $0.16 per share versus the $0.12 expected loss, while revenue of $0.13 million fell well short of the $4.39 million consensus estimate.

Oncobiologics (NASDAQ:OTLK - Get Free Report) was upgraded by equities researchers at BTIG Research from a "neutral" rating to a "buy" rating in a research note issued on Monday,Benzinga reports. The brokerage currently has a $4.00 price target on the stock. BTIG Research's price target indicates a potential upside of 184.70% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Weiss Ratings raised shares of Oncobiologics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 24th. Wall Street Zen cut shares of Oncobiologics from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Finally, Ascendiant Capital Markets upped their price target on shares of Oncobiologics from $6.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $5.67.

Oncobiologics Price Performance

Shares of OTLK stock opened at $1.41 on Monday. The company has a market cap of $208.77 million, a price-to-earnings ratio of -1.20 and a beta of 0.77. The stock has a 50 day simple moving average of $1.18 and a 200-day simple moving average of $0.65. Oncobiologics has a 1-year low of $0.16 and a 1-year high of $3.39.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last announced its earnings results on Friday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.04). The firm had revenue of $0.13 million during the quarter, compared to analysts' expectations of $4.39 million. Analysts anticipate that Oncobiologics will post -0.48 earnings per share for the current fiscal year.

Insider Activity at Oncobiologics

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

Institutional Trading of Oncobiologics

Several large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in shares of Oncobiologics by 865.2% in the 2nd 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. Goldman Sachs Group Inc. grew its holdings in shares of 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 purchasing an additional 44,063 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Oncobiologics by 42.7% in the first 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 during the period. 11.20% of the stock is currently 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.

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