Oncobiologics, Inc. (NASDAQ:OTLK) Receives Average Recommendation of "Moderate Buy" from Brokerages

Oncobiologics, Inc. (NASDAQ:OTLK - Get Free Report) has received a consensus rating of "Moderate Buy" from the five research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $9.60.

OTLK has been the subject of several analyst reports. Ascendiant Capital Markets lowered their price objective 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 reissued a "buy" rating on shares of Oncobiologics in a research report on Tuesday, May 20th.

Oncobiologics Stock Down 0.6%

OTLK stock traded down $0.01 during midday trading on Monday, reaching $1.68. 466,429 shares of the company's stock traded hands, compared to its average volume of 802,096. The firm's fifty day moving average price is $1.63 and its 200-day moving average price is $1.66. Oncobiologics has a 52 week low of $0.87 and a 52 week high of $9.25. The company has a market cap of $56.40 million, a price-to-earnings ratio of -1.85 and a beta of 0.31.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last posted its 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. Analysts forecast that Oncobiologics will post -2.27 earnings per share for the current year.

Hedge Funds Weigh In On Oncobiologics

Several institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in Oncobiologics by 34,936.7% in the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company's stock worth $32,000 after purchasing an additional 17,119 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Oncobiologics during the 4th quarter worth $48,000. Jane Street Group LLC grew its position in Oncobiologics by 133.9% during the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company's stock valued at $50,000 after buying an additional 15,008 shares during the period. Bank of New York Mellon Corp raised its position 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 worth $56,000 after acquiring an additional 9,211 shares during the period. Finally, AQR Capital Management LLC raised its position in Oncobiologics by 42.7% in the first 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. 11.20% of the stock is owned by institutional investors.

Oncobiologics Company Profile

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.