Brokerages Set Outlook Therapeutics, Inc. (NASDAQ:OTLK) PT at $42.34

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $42.34.

A number of analysts have recently issued reports on the company. BTIG Research lowered their price target on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Ascendiant Capital Markets decreased 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. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Outlook Therapeutics in a report on Friday, November 29th. Finally, Chardan Capital reissued a “neutral” rating on shares of Outlook Therapeutics in a research note on Monday, December 2nd.

Insider Activity

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the completion of the acquisition, the chief financial officer now owns 5,946 shares of the company’s stock, valued at approximately $33,832.74. The trade was a 528.54 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Outlook Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Christensen King & Associates Investment Services Inc. purchased a new stake in shares of Outlook Therapeutics in the 3rd quarter valued at approximately $55,000. AQR Capital Management LLC purchased a new stake in Outlook Therapeutics in the second quarter valued at approximately $75,000. Barclays PLC raised its position in Outlook Therapeutics by 677.4% in the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after purchasing an additional 18,249 shares during the period. XTX Topco Ltd acquired a new position in Outlook Therapeutics during the third quarter worth $199,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Outlook Therapeutics in the second quarter valued at $232,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

Outlook Therapeutics Trading Up 3.6 %

OTLK stock opened at $1.44 on Thursday. Outlook Therapeutics has a 12-month low of $0.87 and a 12-month high of $12.85. The business’s 50-day moving average is $4.17 and its 200 day moving average is $6.08. The stock has a market cap of $34.06 million, a price-to-earnings ratio of -0.13 and a beta of 0.46.

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.