Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) have earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $46.43.

Several equities research analysts have recently issued reports on OTLK shares. HC Wainwright increased their price objective on shares of Outlook Therapeutics to $30.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. Chardan Capital upgraded Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, February 15th. Capital One Financial restated an “overweight” rating on shares of Outlook Therapeutics in a report on Friday, February 16th. Brookline Capital Management upgraded Outlook Therapeutics from a “hold” rating to a “buy” rating and set a $31.40 price objective for the company in a report on Thursday, January 25th. Finally, Guggenheim raised Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, January 25th.

Outlook Therapeutics Trading Down 1.4 %

OTLK stock opened at $8.17 on Friday. Outlook Therapeutics has a 1-year low of $4.00 and a 1-year high of $40.60. The firm has a market cap of $106.29 million, a PE ratio of -2.04 and a beta of 0.04. The business’s 50-day moving average price is $8.61 and its two-hundred day moving average price is $8.41.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.20. On average, analysts forecast that Outlook Therapeutics will post -2.99 earnings per share for the current year.

Institutional Trading of Outlook Therapeutics

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Outlook Therapeutics by 55.1% during the 1st quarter. JPMorgan Chase & Co. now owns 53,465 shares of the company’s stock valued at $95,000 after purchasing an additional 18,989 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Outlook Therapeutics by 14.3% during the 1st quarter. Bank of New York Mellon Corp now owns 332,411 shares of the company’s stock worth $592,000 after buying an additional 41,606 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Outlook Therapeutics by 93.3% during the 1st quarter. Rhumbline Advisers now owns 92,634 shares of the company’s stock worth $165,000 after buying an additional 44,704 shares during the period. BlackRock Inc. grew its stake in Outlook Therapeutics by 12.9% in the 1st quarter. BlackRock Inc. now owns 6,680,116 shares of the company’s stock valued at $11,891,000 after buying an additional 761,356 shares during the last quarter. Finally, American International Group Inc. raised its holdings in Outlook Therapeutics by 19.5% in the 1st quarter. American International Group Inc. now owns 56,554 shares of the company’s stock valued at $101,000 after acquiring an additional 9,225 shares during the period. 11.20% of the stock is 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.