BTIG Research Issues Pessimistic Forecast for Outlook Therapeutics (NASDAQ:OTLK) Stock Price

Outlook Therapeutics (NASDAQ:OTLK) had its target price reduced by BTIG Research from $50.00 to $9.00 in a research note published on Friday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

OTLK has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Outlook Therapeutics in a report on Friday. Ascendiant Capital Markets dropped their price objective on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Outlook Therapeutics in a research note on Friday, August 16th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Outlook Therapeutics has an average rating of “Buy” and a consensus price target of $42.34.

Outlook Therapeutics Trading Up 20.6 %

NASDAQ:OTLK opened at $2.05 on Friday. Outlook Therapeutics has a 12-month low of $0.87 and a 12-month high of $12.85. The firm has a market cap of $48.50 million, a price-to-earnings ratio of -0.19 and a beta of 0.62. The company’s 50-day moving average is $5.29 and its two-hundred day moving average is $6.70.

Insider Buying and Selling at Outlook Therapeutics

In related news, CFO Lawrence A. Kenyon acquired 5,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was bought at an average cost of $5.69 per share, with a total value of $28,450.00. Following the acquisition, the chief financial officer now directly owns 5,946 shares in the company, valued at approximately $33,832.74. The trade was a 528.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Outlook Therapeutics

Large investors have recently modified their holdings of the stock. Christensen King & Associates Investment Services Inc. acquired a new position in shares of Outlook Therapeutics in the 3rd quarter valued at about $55,000. AQR Capital Management LLC acquired a new stake in shares of Outlook Therapeutics in the second quarter valued at approximately $75,000. Barclays PLC grew its holdings in Outlook Therapeutics by 677.4% in the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after buying an additional 18,249 shares in the last quarter. XTX Topco Ltd acquired a new position in Outlook Therapeutics during the 3rd quarter worth $199,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics during the second quarter valued at about $232,000. Institutional investors own 11.20% of the company’s stock.

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.