Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives $48.20 Average Price Target from Analysts

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

OTLK has been the topic of a number of research reports. Ascendiant Capital Markets reduced their price target 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. Chardan Capital restated a “buy” rating and issued a $53.00 target price on shares of Outlook Therapeutics in a report on Friday, August 16th. 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.

Outlook Therapeutics Stock Performance

Shares of NASDAQ OTLK opened at $6.35 on Wednesday. The company has a market cap of $150.24 million, a P/E ratio of -0.59 and a beta of 0.62. The firm’s fifty day moving average is $5.99 and its two-hundred day moving average is $7.10. Outlook Therapeutics has a 52-week low of $4.61 and a 52-week high of $12.85.

Outlook Therapeutics (NASDAQ:OTLK) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.23. As a group, analysts forecast that Outlook Therapeutics will post -3.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Lawrence A. Kenyon purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average cost of $5.69 per share, with a total value of $28,450.00. Following the purchase, the chief financial officer now owns 5,946 shares in the company, valued at approximately $33,832.74. This trade represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Outlook Therapeutics

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in shares of Outlook Therapeutics during the 2nd quarter worth about $75,000. Christensen King & Associates Investment Services Inc. purchased a new stake in Outlook Therapeutics in the 3rd quarter valued at about $55,000. Squarepoint Ops LLC purchased a new stake in Outlook Therapeutics in the 2nd quarter valued at about $232,000. Susquehanna Fundamental Investments LLC purchased a new stake in Outlook Therapeutics in the 2nd quarter valued at about $303,000. Finally, LVW Advisors LLC purchased a new stake in Outlook Therapeutics in the 2nd quarter valued at about $352,000. 11.20% of the stock is owned by hedge funds and other institutional investors.

Outlook Therapeutics Company Profile

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.