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

by · The Markets Daily

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK – Get Free Report) have been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have covered the stock in the last year is $48.20.

Several research firms have recently issued reports on OTLK. Ascendiant Capital Markets reduced their target price on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Outlook Therapeutics in a report on Thursday, August 15th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $53.00 target price on shares of Outlook Therapeutics in a research note on Friday, August 16th.

Check Out Our Latest Report on Outlook Therapeutics

Insider Activity

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average cost 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 in the company, valued at $33,832.74. The trade was a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OTLK. AQR Capital Management LLC purchased a new position in shares of Outlook Therapeutics in the 2nd quarter worth $75,000. Squarepoint Ops LLC bought a new position in shares of Outlook Therapeutics in the 2nd quarter worth approximately $232,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Outlook Therapeutics in the second quarter worth approximately $303,000. LVW Advisors LLC bought a new stake in Outlook Therapeutics during the second quarter valued at approximately $352,000. Finally, Rosalind Advisors Inc. grew its position in Outlook Therapeutics by 44.3% during the second quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company’s stock valued at $3,321,000 after buying an additional 138,225 shares during the period. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Outlook Therapeutics Stock Down 5.2 %

Shares of Outlook Therapeutics stock opened at $4.95 on Friday. The company’s fifty day simple moving average is $6.70 and its two-hundred day simple moving average is $7.62. Outlook Therapeutics has a 12-month low of $4.57 and a 12-month high of $18.00. The firm has a market cap of $115.86 million, a PE ratio of -0.43 and a beta of 0.62.

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

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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