Outlook Therapeutics (NASDAQ:OTLK) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Outlook Therapeutics (NASDAQ:OTLK) from a strong-buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Outlook Therapeutics Inc. is a clinical-stage biopharmaceutical company. It focuses on developing ONS-5010 which is a proprietary ophthalmic bevacizumab product candidate for the treatment of wet age related macular degeneration which is in clinical stage. Outlook Therapeutics Inc., formerly known as Oncobiologics Inc., is based in Cranbury, United States. “

Several other research analysts have also recently commented on OTLK. LADENBURG THALM/SH SH began coverage on Outlook Therapeutics in a research report on Wednesday, September 11th. They issued a buy rating and a $9.00 target price for the company. HC Wainwright began coverage on Outlook Therapeutics in a research report on Thursday, July 18th. They issued a buy rating and a $8.00 target price for the company. Finally, ValuEngine raised Outlook Therapeutics from a hold rating to a buy rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $7.79.

Shares of OTLK stock opened at $1.69 on Wednesday. Outlook Therapeutics has a one year low of $0.85 and a one year high of $10.96. The stock has a fifty day moving average price of $1.80 and a 200 day moving average price of $2.43.

Outlook Therapeutics (NASDAQ:OTLK) last issued its earnings results on Wednesday, August 14th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.13. The firm had revenue of $0.58 million during the quarter, compared to the consensus estimate of $0.73 million. As a group, sell-side analysts predict that Outlook Therapeutics will post -2.08 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of OTLK. Vanguard Group Inc. lifted its position in Outlook Therapeutics by 712.1% in the second quarter. Vanguard Group Inc. now owns 396,001 shares of the company’s stock worth $824,000 after purchasing an additional 347,238 shares during the period. Chicago Capital LLC bought a new position in Outlook Therapeutics in the second quarter worth $40,000. Finally, Cormorant Asset Management LP bought a new position in Outlook Therapeutics in the second quarter worth $32,000. 2.95% of the stock is owned by hedge funds and other institutional investors.

Outlook Therapeutics Company Profile

Outlook Therapeutics, Inc, a late clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibody for various ophthalmic indications. Its lead product candidate is ONS-5010, a proprietary ophthalmic bevacizumab product candidate that is in first clinical trial for the treatment of wet age related macular degeneration and other retina diseases.

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