Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives $42.34 Average PT from Brokerages

Outlook Therapeutics, Inc. (NASDAQ:OTLK) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $42.34.

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

Institutional Investors Weigh In On Outlook Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Christensen King & Associates Investment Services Inc. bought a new position in shares of Outlook Therapeutics during the 3rd quarter valued at $55,000. AQR Capital Management LLC purchased a new stake in Outlook Therapeutics during the second quarter valued at $75,000. Barclays PLC lifted its holdings in Outlook Therapeutics by 677.4% in the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after acquiring an additional 18,249 shares during the period. XTX Topco Ltd purchased a new position in Outlook Therapeutics in the third quarter worth about $199,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics during the 2nd quarter valued at about $232,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Outlook Therapeutics Trading Up 3.5 %

Shares of NASDAQ:OTLK opened at $1.47 on Thursday. The stock has a fifty day simple moving average of $4.02 and a two-hundred day simple moving average of $6.00. 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 $34.77 million, a price-to-earnings ratio of -0.14 and a beta of 0.47.

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.