BTIG Research Cuts Outlook Therapeutics (NASDAQ:OTLK) Price Target to $9.00

Outlook Therapeutics (NASDAQ:OTLK) had its price target reduced by BTIG Research from $50.00 to $9.00 in a research report sent to investors on Friday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a research note on Friday. Chardan Capital restated a “buy” rating and issued a $53.00 price objective on shares of Outlook Therapeutics in a research report on Friday, August 16th. Finally, Ascendiant Capital Markets lowered their price objective on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Outlook Therapeutics presently has a consensus rating of “Buy” and an average price target of $42.34.

Outlook Therapeutics Price Performance

Outlook Therapeutics stock opened at $2.05 on Friday. The business has a 50 day simple moving average of $5.29 and a 200-day simple moving average of $6.70. Outlook Therapeutics has a 12 month low of $0.87 and a 12 month high of $12.85. The stock has a market capitalization of $48.50 million, a PE ratio of -0.19 and a beta of 0.62.

Insiders Place Their Bets

In other news, CFO Lawrence A. Kenyon acquired 5,000 shares of Outlook Therapeutics stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average cost of $5.69 per share, with a total value of $28,450.00. Following the completion of the acquisition, the chief financial officer now owns 5,946 shares in the company, valued at $33,832.74. This trade represents a 528.54 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Outlook Therapeutics

Several large investors have recently bought and sold shares of OTLK. Barclays PLC raised its stake in shares of Outlook Therapeutics by 677.4% during the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after buying an additional 18,249 shares during the last quarter. Geode Capital Management LLC increased its holdings in Outlook Therapeutics by 49.2% during the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after acquiring an additional 112,812 shares in the last quarter. XTX Topco Ltd acquired a new position in Outlook Therapeutics during the third quarter worth about $199,000. State Street Corp lifted its holdings in shares of Outlook Therapeutics by 10.0% in the third quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after purchasing an additional 21,201 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Outlook Therapeutics by 55.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock valued at $275,000 after purchasing an additional 18,287 shares during the last quarter. Institutional investors and hedge funds own 11.20% of the company’s stock.

Outlook Therapeutics 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.