Ascendiant Capital Markets Has Lowered Expectations for Outlook Therapeutics (NASDAQ:OTLK) Stock Price

Outlook Therapeutics (NASDAQ:OTLK) had its price target decreased by equities researchers at Ascendiant Capital Markets from $33.00 to $24.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Several other equities research analysts also recently commented on the company. HC Wainwright decreased their price objective on Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. BTIG Research decreased their price target on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Guggenheim restated a “buy” rating and set a $12.00 price objective on shares of Outlook Therapeutics in a report on Friday, January 17th. Finally, Chardan Capital reiterated a “neutral” rating and set a $3.00 price objective on shares of Outlook Therapeutics in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Outlook Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $10.20.

Outlook Therapeutics Trading Down 4.9 %

NASDAQ:OTLK opened at $1.56 on Monday. The firm has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $4.26. 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 $49.95 million, a price-to-earnings ratio of -0.21 and a beta of 0.58.

Outlook Therapeutics (NASDAQ:OTLK) last issued its earnings results on Friday, February 14th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.04). Equities analysts predict that Outlook Therapeutics will post -2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Outlook Therapeutics

Several large investors have recently bought and sold shares of the stock. Jane Street Group LLC grew its stake in shares of Outlook Therapeutics by 133.9% in the 4th quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock worth $50,000 after acquiring an additional 15,008 shares in the last quarter. Scotia Capital Inc. grew its position in Outlook Therapeutics by 124.4% in the 4th quarter. Scotia Capital Inc. now owns 73,989 shares of the company’s stock worth $140,000 after purchasing an additional 41,023 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Outlook Therapeutics in the 4th quarter valued at about $246,000. Russell Investments Group Ltd. lifted its position in shares of Outlook Therapeutics by 34,936.7% during the 4th quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock worth $32,000 after buying an additional 17,119 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Outlook Therapeutics in the 4th quarter worth approximately $48,000. 11.20% of the stock is currently owned by institutional investors.

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.