Analysts Set Outlook Therapeutics, Inc. (NASDAQ:OTLK) Price Target at $48.20

Outlook Therapeutics, Inc. (NASDAQ:OTLK) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $42.34.

A number of analysts have recently commented on the company. Ascendiant Capital Markets lowered their target price on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Outlook Therapeutics in a research report on Friday. Chardan Capital reaffirmed a “buy” rating and issued a $53.00 price target on shares of Outlook Therapeutics in a report on Friday, August 16th. Finally, BTIG Research dropped their price objective on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a report on Friday.

Insider Transactions at Outlook Therapeutics

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon purchased 5,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the completion of the transaction, the chief financial officer now owns 5,946 shares of the company’s stock, valued at $33,832.74. The trade was a 528.54 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in shares of Outlook Therapeutics in the second quarter valued at approximately $75,000. Christensen King & Associates Investment Services Inc. purchased a new stake in Outlook Therapeutics in the 3rd quarter valued at $55,000. Barclays PLC grew its holdings in shares of Outlook Therapeutics by 677.4% in the third 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 period. Charles Schwab Investment Management Inc. grew its stake in shares of Outlook Therapeutics by 55.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock valued at $275,000 after buying an additional 18,287 shares during the period. Finally, State Street Corp increased its stake in Outlook Therapeutics by 10.0% during the third quarter. State Street Corp now owns 232,542 shares of the company’s stock worth $1,242,000 after acquiring an additional 21,201 shares during the last quarter. 11.20% of the stock is owned by hedge funds and other institutional investors.

Outlook Therapeutics Price Performance

NASDAQ OTLK opened at $2.05 on Friday. Outlook Therapeutics has a 1 year low of $0.87 and a 1 year high of $12.85. The company has a market capitalization of $48.49 million, a PE ratio of -0.19 and a beta of 0.62. The company has a fifty day moving average of $5.29 and a 200 day moving average of $6.71.

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.