Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives $27.40 Consensus Target Price from Analysts

Outlook Therapeutics, Inc. (NASDAQ:OTLK) has earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $27.40.

Several brokerages recently 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 note on Friday, November 29th. Guggenheim restated a “buy” rating and issued a $12.00 target price on shares of Outlook Therapeutics in a report on Friday, January 17th. Chardan Capital reiterated a “neutral” rating on shares of Outlook Therapeutics in a report on Monday, December 2nd. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Outlook Therapeutics in a research report on Friday, January 17th.

Outlook Therapeutics Stock Performance

Shares of NASDAQ OTLK opened at $1.71 on Friday. The firm has a fifty day moving average of $1.87 and a 200 day moving average of $4.70. The firm has a market cap of $54.69 million, a PE ratio of -0.19 and a beta of 0.58. Outlook Therapeutics has a one year low of $0.87 and a one year high of $12.85.

Outlook Therapeutics (NASDAQ:OTLK) last issued its quarterly earnings results on Friday, December 27th. The company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.06. On average, equities analysts predict that Outlook Therapeutics will post -2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Outlook Therapeutics

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in shares of Outlook Therapeutics by 44.8% during the fourth quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock worth $56,000 after purchasing an additional 9,211 shares in the last quarter. Rhumbline Advisers boosted its position in Outlook Therapeutics by 1,329.6% in the 4th quarter. Rhumbline Advisers now owns 188,050 shares of the company’s stock valued at $355,000 after buying an additional 174,896 shares during the period. Barclays PLC grew its stake in shares of Outlook Therapeutics by 677.4% in the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after acquiring an additional 18,249 shares in the last quarter. Geode Capital Management LLC increased its position 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 acquiring an additional 112,812 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Outlook Therapeutics in the third quarter valued at $199,000. 11.20% of the stock is currently owned by institutional investors and hedge funds.

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.