Analysts Set Outlook Therapeutics, Inc. (NASDAQ:OTLK) Price Target at $27.40

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $27.40.

OTLK has been the subject of several recent analyst reports. Chardan Capital restated a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Outlook Therapeutics in a research report on Friday, January 17th. Guggenheim reaffirmed a “buy” rating and set a $12.00 price objective on shares of Outlook Therapeutics in a report on Friday, January 17th. Finally, BTIG Research reduced their target price on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th.

Institutional Trading of Outlook Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Christensen King & Associates Investment Services Inc. purchased a new stake in Outlook Therapeutics during the third quarter worth $55,000. Bank of New York Mellon Corp boosted its position in shares of Outlook Therapeutics by 44.8% in the 4th quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock worth $56,000 after buying an additional 9,211 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Outlook Therapeutics in the 2nd quarter worth about $75,000. Barclays PLC increased its holdings in Outlook Therapeutics by 677.4% during the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after acquiring an additional 18,249 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Outlook Therapeutics during the 3rd quarter valued at about $199,000. 11.20% of the stock is owned by institutional investors and hedge funds.

Outlook Therapeutics Trading Down 1.2 %

Shares of OTLK stock opened at $1.71 on Friday. Outlook Therapeutics has a 12 month low of $0.87 and a 12 month high of $12.85. The company has a market cap of $54.69 million, a P/E ratio of -0.19 and a beta of 0.58. The firm has a fifty day moving average price of $1.87 and a 200 day moving average price of $4.70.

Outlook Therapeutics (NASDAQ:OTLK) last issued its earnings results on Friday, December 27th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.06. On average, equities analysts forecast that Outlook Therapeutics will post -2.25 EPS for the current year.

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.