Outlook Therapeutics (NASDAQ:OTLK) Receives “Buy” Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Outlook Therapeutics (NASDAQ:OTLK) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

A number of other brokerages have also issued reports on OTLK. Chardan Capital reissued a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. BTIG Research dropped their target price on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Outlook Therapeutics in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Outlook Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $28.07.

Outlook Therapeutics Stock Up 1.8 %

NASDAQ:OTLK opened at $2.23 on Friday. Outlook Therapeutics has a 12-month low of $0.87 and a 12-month high of $12.85. The firm has a market capitalization of $55.54 million, a P/E ratio of -0.25 and a beta of 0.53. The stock’s fifty day simple moving average is $2.70 and its 200-day simple moving average is $5.35.

Outlook Therapeutics (NASDAQ:OTLK) last posted its earnings results on Friday, December 27th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.06. As a group, equities research analysts expect that Outlook Therapeutics will post -2.33 earnings per share for the current year.

Institutional Trading of Outlook Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of OTLK. Great Point Partners LLC lifted its position in shares of 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 acquiring an additional 221,510 shares during the period. Geode Capital Management LLC lifted its position in Outlook Therapeutics by 49.2% during the third quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock worth $1,826,000 after purchasing an additional 112,812 shares during the period. State Street Corp lifted its position in Outlook Therapeutics by 10.0% during the third quarter. State Street Corp now owns 232,542 shares of the company’s stock worth $1,242,000 after purchasing an additional 21,201 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Outlook Therapeutics by 55.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock worth $275,000 after buying an additional 18,287 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Outlook Therapeutics in the second quarter valued at approximately $303,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

About Outlook Therapeutics

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.