Outlook Therapeutics, Inc. (NASDAQ:OTLK) Given Average Recommendation of “Moderate Buy” by Analysts

Outlook Therapeutics, Inc. (NASDAQ:OTLK) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $42.34.

Several brokerages have recently commented on OTLK. Chardan Capital reiterated a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. BTIG Research lowered their price objective on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. Ascendiant Capital Markets cut their price objective on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a research report on Friday, November 29th.

Insider Activity at Outlook Therapeutics

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

Hedge Funds Weigh In On Outlook Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Great Point Partners LLC increased its position 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 during the period. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 112,812 shares in the last quarter. State Street Corp boosted its stake in shares of Outlook Therapeutics by 10.0% during the 3rd 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. Charles Schwab Investment Management Inc. raised its stake in Outlook Therapeutics by 55.1% in 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 worth about $303,000. Institutional investors own 11.20% of the company’s stock.

Outlook Therapeutics Stock Down 2.8 %

OTLK opened at $1.40 on Thursday. The business’s fifty day simple moving average is $4.31 and its 200 day simple moving average is $6.16. Outlook Therapeutics has a 52 week low of $0.87 and a 52 week high of $12.85. The stock has a market cap of $33.12 million, a PE ratio of -0.13 and a beta of 0.46.

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.