Could Oncobiologics, Inc. (ONS) Gain Strenght After Forming Wedge Down Pattern?

August 18, 2018 - By Carolyn Hewitt

The stock of Oncobiologics, Inc. (ONS) formed a down wedge with $0.75 target or 3.00 % below today’s $0.78 share price. The 5 months wedge indicates high risk for the $55.95M company. If the $0.75 price target is reached, the company will be worth $1.68 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 4.32% or $0.035 during the last trading session, reaching $0.775. About 9,190 shares traded. Oncobiologics, Inc. (NASDAQ:ONS) has declined 22.83% since August 18, 2017 and is downtrending. It has underperformed by 35.40% the S&P500.

More important recent Oncobiologics, Inc. (NASDAQ:ONS) news were published by: Streetinsider.com which released: “Oncobiologics (ONS) Appoints Lawrence A. Kenyon as President and CEO” on August 02, 2018, also Nasdaq.com published article titled: “Oncobiologics Completes Exchange of Series A Convertible Preferred Stock for Newly Created Series A-1 Convertible …”, Nasdaq.com published: “Oncobiologics Appoints Lawrence A. Kenyon as President and CEO” on August 02, 2018. More interesting news about Oncobiologics, Inc. (NASDAQ:ONS) was released by: Nasdaq.com and their article: “Oncobiologics Provides Business Update and Reports Third Quarter Financial Results for Fiscal 2018” with publication date: August 14, 2018.

Oncobiologics, Inc., a clinical-stage biopharmaceutical company, focuses on identifying, developing, manufacturing, and commercializing complex biosimilar therapeutics in immunology and oncology disease areas. The company has market cap of $55.95 million. The Company’s advanced product candidate is ONS-3010, an adalimumab biosimilar that is in a Phase 1 clinical trial, which targets the tumor necrosis factor alpha. It currently has negative earnings. The firm also develops ONS-1045, a bevacizumab biosimilar, which is in a Phase 1 clinical trial that interferes with tumor growth by binding to vascular endothelial growth factor, a protein that stimulates the formation of new blood vessels.

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