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

Zacks Investment Research cut shares of Outlook Therapeutics (NASDAQ:OTLK) from a buy rating to a hold rating in a report issued on Tuesday 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. “

Separately, HC Wainwright upped their price objective on shares of Outlook Therapeutics from $5.00 to $6.00 and gave the stock a buy rating in a research note on Tuesday, August 3rd.

OTLK opened at $2.31 on Tuesday. The company has a market cap of $405.04 million, a price-to-earnings ratio of -3.45 and a beta of 0.77. The company’s 50 day moving average is $2.42 and its 200 day moving average is $2.36. Outlook Therapeutics has a 12-month low of $0.63 and a 12-month high of $4.26.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data on Thursday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). As a group, research analysts predict that Outlook Therapeutics will post -0.3 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in OTLK. Victory Capital Management Inc. acquired a new position in Outlook Therapeutics in the 1st quarter valued at $34,000. IndexIQ Advisors LLC acquired a new position in Outlook Therapeutics in the 1st quarter valued at $414,000. BlackRock Inc. acquired a new stake in shares of Outlook Therapeutics in the 1st quarter worth $3,921,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Outlook Therapeutics in the 1st quarter worth $29,000. Finally, Sciencast Management LP acquired a new stake in shares of Outlook Therapeutics in the 1st quarter worth $27,000. Hedge funds and other institutional investors own 11.71% of the company’s stock.

About Outlook Therapeutics

Outlook Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the identification, development, manufacture, and commercialization of ONS-5010/LYTENAVA as the first FDA-approved ophthalmic formulation of bevacizumab-vikg for use in retinal indications, including wet AMD, DME and BRVO.

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