Brokerages Set Outlook Therapeutics, Inc. (NASDAQ:OTLK) PT at $48.20

Outlook Therapeutics, Inc. (NASDAQ:OTLK) has received a consensus rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $48.20.

OTLK has been the topic of a number of recent analyst reports. Ascendiant Capital Markets dropped their price objective on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Outlook Therapeutics in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Outlook Therapeutics in a report on Thursday, August 15th. Finally, Chardan Capital reissued a “buy” rating and set a $53.00 price objective on shares of Outlook Therapeutics in a report on Friday, August 16th.

Insider Buying and Selling

In related news, CFO Lawrence A. Kenyon bought 5,000 shares of the stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $5.69 per share, for a total transaction of $28,450.00. Following the acquisition, the chief financial officer now owns 5,946 shares in the company, valued at $33,832.74. This represents a 528.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Outlook Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Great Point Partners LLC increased its position in Outlook Therapeutics by 15.0% during the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock worth $12,557,000 after purchasing an additional 221,510 shares in the last quarter. Rosalind Advisors Inc. grew its holdings in shares of Outlook Therapeutics by 44.3% during the second quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company’s stock worth $3,321,000 after buying an additional 138,225 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Outlook Therapeutics by 49.2% during the third quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock worth $1,826,000 after buying an additional 112,812 shares in the last quarter. LVW Advisors LLC acquired a new position in shares of Outlook Therapeutics in the second quarter valued at approximately $352,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Outlook Therapeutics during the second quarter valued at approximately $303,000. 11.20% of the stock is owned by institutional investors and hedge funds.

Outlook Therapeutics Trading Down 0.8 %

Shares of OTLK opened at $4.89 on Friday. The stock’s 50 day moving average is $5.56 and its two-hundred day moving average is $6.84. Outlook Therapeutics has a twelve month low of $4.61 and a twelve month high of $12.85. The firm has a market capitalization of $115.70 million, a PE ratio of -0.47 and a beta of 0.62.

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.