Great Point Partners LLC Raises Position in Outlook Therapeutics, Inc. (NASDAQ:OTLK)

Great Point Partners LLC lifted its stake in shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,701,510 shares of the company’s stock after buying an additional 221,510 shares during the quarter. Outlook Therapeutics accounts for approximately 2.4% of Great Point Partners LLC’s holdings, making the stock its 20th largest holding. Great Point Partners LLC owned about 7.27% of Outlook Therapeutics worth $12,557,000 at the end of the most recent reporting period.

Separately, LVW Advisors LLC purchased a new stake in shares of Outlook Therapeutics during the second quarter valued at approximately $352,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OTLK. Ascendiant Capital Markets decreased their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Chardan Capital restated a “buy” rating and set a $53.00 target price on shares of Outlook Therapeutics in a research note on Friday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Outlook Therapeutics in a research note on Thursday, August 15th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $48.20.

Outlook Therapeutics Stock Performance

Shares of Outlook Therapeutics stock opened at $5.58 on Tuesday. The firm has a market cap of $130.61 million, a PE ratio of -0.49 and a beta of 0.64. Outlook Therapeutics, Inc. has a 1 year low of $4.20 and a 1 year high of $18.00. The firm’s 50-day simple moving average is $7.40 and its 200-day simple moving average is $7.80.

Outlook Therapeutics (NASDAQ:OTLK) last released its earnings results on Wednesday, August 14th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.23. On average, equities analysts predict that Outlook Therapeutics, Inc. will post -3.59 earnings per share for the current year.

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.