Zacks Investment Research Lowers Outlook Therapeutics (NASDAQ:OTLK) to Hold

Zacks Investment Research cut shares of Outlook Therapeutics (NASDAQ:OTLK) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Outlook Therapeutics Inc. is a clinical-stage biopharmaceutical company. It focuses on developing ONS-5010 which is a proprietary ophthalmic bevacizumab product candidate for the treatment of wet age related macular degeneration which is in clinical stage. Outlook Therapeutics Inc., formerly known as Oncobiologics Inc., is based in Cranbury, United States. “

Several other analysts have also commented on OTLK. HC Wainwright initiated coverage on shares of Outlook Therapeutics in a research report on Thursday, July 18th. They issued a buy rating and a $8.00 price target on the stock. LADENBURG THALM/SH SH began coverage on shares of Outlook Therapeutics in a research report on Wednesday, September 11th. They set a buy rating and a $9.00 target price on the stock. Finally, ValuEngine upgraded shares of Outlook Therapeutics from a hold rating to a buy rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $7.79.

OTLK stock opened at $1.24 on Wednesday. The company’s 50 day simple moving average is $1.37 and its 200-day simple moving average is $1.81. The firm has a market capitalization of $38.40 million, a PE ratio of -0.11 and a beta of -0.66. Outlook Therapeutics has a 12 month low of $0.85 and a 12 month high of $10.96.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.13. The business had revenue of $0.58 million during the quarter, compared to analyst estimates of $0.73 million. Sell-side analysts expect that Outlook Therapeutics will post -2.08 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Outlook Therapeutics by 712.1% during the second quarter. Vanguard Group Inc. now owns 396,001 shares of the company’s stock worth $824,000 after acquiring an additional 347,238 shares during the last quarter. LVW Advisors LLC boosted its holdings in shares of Outlook Therapeutics by 37.6% in the 3rd quarter. LVW Advisors LLC now owns 389,088 shares of the company’s stock valued at $580,000 after purchasing an additional 106,293 shares during the last quarter. Chicago Capital LLC acquired a new position in shares of Outlook Therapeutics in the 2nd quarter valued at $40,000. Finally, Cormorant Asset Management LP acquired a new position in shares of Outlook Therapeutics in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 3.26% of the company’s stock.

Outlook Therapeutics Company Profile

Outlook Therapeutics, Inc, a late clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibody for various ophthalmic indications. Its lead product candidate is ONS-5010, a proprietary ophthalmic bevacizumab product candidate that is in first clinical trial for the treatment of wet age related macular degeneration and other retina diseases.

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