Outlook Therapeutics (NASDAQ:OTLK) Given New $24.00 Price Target at Ascendiant Capital Markets

Outlook Therapeutics (NASDAQ:OTLK) had its price objective decreased by Ascendiant Capital Markets from $33.00 to $24.00 in a research report report published on Monday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

OTLK has been the topic of several other reports. HC Wainwright reduced their price objective on Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. BTIG Research reduced their price target on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Guggenheim restated a “buy” rating and issued a $12.00 price objective on shares of Outlook Therapeutics in a report on Friday, January 17th. Finally, Chardan Capital reaffirmed a “neutral” rating and issued a $3.00 price objective on shares of Outlook Therapeutics in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Outlook Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $10.20.

Outlook Therapeutics Price Performance

Shares of NASDAQ:OTLK opened at $1.52 on Monday. The company’s fifty day moving average price is $1.89 and its 200-day moving average price is $4.21. The firm has a market capitalization of $48.67 million, a price-to-earnings ratio of -0.20 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 announced its earnings results on Friday, February 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.04). As a group, equities research analysts expect that Outlook Therapeutics will post -2.27 EPS for the current year.

Hedge Funds Weigh In On Outlook Therapeutics

A number of large investors have recently bought and sold shares of OTLK. Bank of New York Mellon Corp increased its position in shares of Outlook Therapeutics by 44.8% in the fourth quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock valued at $56,000 after acquiring an additional 9,211 shares during the period. Jane Street Group LLC grew its stake in shares of Outlook Therapeutics by 133.9% in the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock worth $50,000 after purchasing an additional 15,008 shares during the last quarter. Russell Investments Group Ltd. increased its holdings 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 during the period. Barclays PLC raised its position in Outlook Therapeutics by 677.4% during the 3rd 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 last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Outlook Therapeutics by 55.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock worth $275,000 after buying an additional 18,287 shares during the period. 11.20% of the stock is owned by hedge funds and other institutional investors.

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.