Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives Average Recommendation of “Buy” from Analysts

Outlook Therapeutics, Inc. (NASDAQ:OTLK) has received an average rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $42.34.

OTLK has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Outlook Therapeutics in a research report on Friday. Chardan Capital reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Outlook Therapeutics in a research note on Friday, August 16th. BTIG Research cut their target price on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Ascendiant Capital Markets lowered their price target on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd.

Outlook Therapeutics Stock Up 20.6 %

OTLK opened at $2.05 on Friday. The business has a fifty day moving average of $5.29 and a 200 day moving average of $6.71. The stock has a market cap of $48.49 million, a P/E ratio of -0.19 and a beta of 0.62. Outlook Therapeutics has a 52-week low of $0.87 and a 52-week high of $12.85.

Insider Activity

In other news, CFO Lawrence A. Kenyon bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average price of $5.69 per share, with a total value of $28,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,946 shares of the company’s stock, valued at approximately $33,832.74. The trade was a 528.54 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Outlook Therapeutics

A number of large investors have recently made changes to their positions in the business. Great Point Partners LLC increased its stake in Outlook Therapeutics by 15.0% during the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after purchasing an additional 221,510 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Outlook Therapeutics in the 2nd quarter valued at $303,000. Squarepoint Ops LLC purchased a new position in Outlook Therapeutics in the 2nd quarter worth $232,000. Christensen King & Associates Investment Services Inc. acquired a new stake in Outlook Therapeutics during the 3rd quarter worth about $55,000. Finally, AQR Capital Management LLC acquired a new stake in Outlook Therapeutics during the 2nd quarter worth about $75,000. 11.20% of the stock is owned by institutional investors and hedge funds.

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.