Outlook Therapeutics (NASDAQ:OTLK) Price Target Cut to $3.00 by Analysts at HC Wainwright

Outlook Therapeutics (NASDAQ:OTLK) had its price target cut by HC Wainwright from $30.00 to $3.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on OTLK. BTIG Research dropped their price objective on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Chardan Capital reiterated a “neutral” rating on shares of Outlook Therapeutics in a report on Monday, December 2nd. Finally, Guggenheim restated a “buy” rating and set a $12.00 price objective on shares of Outlook Therapeutics in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Outlook Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Outlook Therapeutics Trading Down 8.6 %

Shares of OTLK opened at $1.71 on Tuesday. The stock’s fifty day simple moving average is $1.88 and its 200 day simple moving average is $4.41. Outlook Therapeutics has a twelve month low of $0.87 and a twelve month high of $12.85. The firm has a market capitalization of $54.69 million, a P/E ratio of -0.19 and a beta of 0.58.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data on Friday, February 14th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.04). Sell-side analysts predict that Outlook Therapeutics will post -2.25 earnings per share for the current year.

Institutional Investors Weigh In On Outlook Therapeutics

A number of large investors have recently added to or reduced their stakes in OTLK. Bank of New York Mellon Corp boosted its position in Outlook Therapeutics by 44.8% in the 4th quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock valued at $56,000 after buying an additional 9,211 shares during the last quarter. Christensen King & Associates Investment Services Inc. purchased a new position in Outlook Therapeutics in the third quarter valued at about $55,000. Jane Street Group LLC boosted its holdings in Outlook Therapeutics by 133.9% in the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock valued at $50,000 after purchasing an additional 15,008 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Outlook Therapeutics by 34,936.7% during the 4th quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock valued at $32,000 after purchasing an additional 17,119 shares in the last quarter. Finally, Barclays PLC increased its holdings in Outlook Therapeutics by 677.4% during the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after purchasing an additional 18,249 shares during the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

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.