Weiss Ratings Reaffirms "Sell (E+)" Rating for Oncobiologics (NASDAQ:OTLK)

Key Points

• Weiss Ratings has reaffirmed a "Sell (E+)" rating for Oncobiologics (NASDAQ:OTLK), indicating ongoing negative sentiment towards the company's stock.
• Several research firms have recently downgraded Oncobiologics, with Zacks lowering the stock from a "strong-buy" to a "hold" rating and Ascendiant Capital Markets reducing its target price from $21.00 to $8.00.
• Oncobiologics' stock is currently priced at $1.26, with a one-year high of $6.98 and a low of $0.79, reflecting significant volatility and investor caution.

Oncobiologics (NASDAQ:OTLK - Get Free Report)'s stock had its "sell (e+)" rating reissued by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on OTLK. Zacks Research lowered Oncobiologics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Ascendiant Capital Markets decreased their target price on Oncobiologics from $21.00 to $8.00 and set a "buy" rating for the company in a report on Monday, September 22nd. HC Wainwright reiterated a "neutral" rating on shares of Oncobiologics in a report on Tuesday, September 30th. Guggenheim lowered Oncobiologics from a "buy" rating to a "neutral" rating in a report on Thursday, August 28th. Finally, Chardan Capital restated a "neutral" rating and issued a $3.00 price target on shares of Oncobiologics in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Oncobiologics presently has an average rating of "Hold" and an average target price of $7.00.

Oncobiologics Stock Performance

NASDAQ:OTLK opened at $1.26 on Wednesday. Oncobiologics has a one year low of $0.79 and a one year high of $6.98. The stock has a market cap of $55.97 million, a PE ratio of -2.21 and a beta of 0.56. The stock has a 50 day moving average price of $1.51 and a 200 day moving average price of $1.61.

Oncobiologics (NASDAQ:OTLK - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.02). The business had revenue of $1.51 million during the quarter, compared to the consensus estimate of $1.66 million. As a group, analysts predict that Oncobiologics will post -2.27 earnings per share for the current fiscal year.

Institutional Trading of Oncobiologics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of 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 purchasing an additional 21,941 shares in the last quarter. AQR Capital Management LLC increased its position in Oncobiologics by 42.7% in the 1st 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, Goldman Sachs Group Inc. boosted its holdings 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 purchasing an additional 44,063 shares in the last quarter. Institutional investors and hedge funds own 11.20% of the company's stock.

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.

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