Analysts Set Outlook Therapeutics, Inc. (NASDAQ:OTLK) Target Price at $48.20

by · The Markets Daily

Outlook Therapeutics, Inc. (NASDAQ:OTLK – Get Free Report) has received an average recommendation of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $48.20.

OTLK has been the subject of several analyst reports. Chardan Capital reissued a “buy” rating and set a $53.00 price target on shares of Outlook Therapeutics in a research report on Friday, August 16th. Ascendiant Capital Markets dropped their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a report on Thursday, August 15th. Finally, BTIG Research restated a “buy” rating and issued a $50.00 target price on shares of Outlook Therapeutics in a report on Friday, October 18th.

Get Our Latest Report on OTLK

Outlook Therapeutics Stock Up 4.8 %

Shares of OTLK opened at $6.35 on Wednesday. The company has a market capitalization of $150.24 million, a P/E ratio of -0.59 and a beta of 0.62. The firm has a 50 day moving average of $5.99 and a 200 day moving average of $7.10. Outlook Therapeutics has a twelve month low of $4.61 and a twelve month high of $12.85.

Outlook Therapeutics (NASDAQ:OTLK – Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.23. On average, sell-side analysts expect that Outlook Therapeutics will post -3.63 EPS for the current year.

Insider Transactions at Outlook Therapeutics

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon purchased 5,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $5.69 per share, for a total transaction of $28,450.00. Following the purchase, the chief financial officer now directly owns 5,946 shares of the company’s stock, valued at $33,832.74. The trade was a 500.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OTLK. Rosalind Advisors Inc. boosted its stake in shares of Outlook Therapeutics by 44.3% during the 2nd quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company’s stock worth $3,321,000 after acquiring an additional 138,225 shares during the last quarter. LVW Advisors LLC bought a new stake in shares of Outlook Therapeutics during the 2nd quarter valued at $352,000. Great Point Partners LLC raised 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 purchasing an additional 221,510 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics during the 2nd quarter valued at $232,000. Finally, AQR Capital Management LLC bought a new stake in shares of Outlook Therapeutics during the 2nd quarter valued at $75,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

About Outlook Therapeutics

(Get Free Report

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.

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