HC Wainwright Reaffirms Buy Rating for Outlook Therapeutics (NASDAQ:OTLK)

Outlook Therapeutics (NASDAQ:OTLK)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $30.00 price target on the stock.

A number of other research firms also recently commented on OTLK. Ascendiant Capital Markets cut their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Outlook Therapeutics in a report on Friday, October 18th. Finally, Chardan Capital reissued a “buy” rating and issued a $53.00 price objective on shares of Outlook Therapeutics in a research note on Friday, August 16th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $42.34.

Outlook Therapeutics Trading Up 20.6 %

Shares of Outlook Therapeutics stock opened at $2.05 on Friday. The stock’s fifty day moving average price is $5.29 and its 200-day moving average price is $6.71. The firm has a market cap of $48.50 million, a P/E ratio of -0.19 and a beta of 0.62. Outlook Therapeutics has a 12 month low of $0.87 and a 12 month high of $12.85.

Insider Buying and Selling

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon purchased 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, for a total transaction of $28,450.00. Following the completion of the purchase, the chief financial officer now owns 5,946 shares in the company, valued at $33,832.74. This represents a 528.54 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Outlook Therapeutics

Several hedge funds have recently modified their holdings of OTLK. Great Point Partners LLC boosted its stake in Outlook Therapeutics by 15.0% in the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock worth $12,557,000 after purchasing an additional 221,510 shares in the last quarter. Rosalind Advisors Inc. lifted its stake in shares of Outlook Therapeutics by 44.3% during the second quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company’s stock worth $3,321,000 after buying an additional 138,225 shares during the period. Geode Capital Management LLC grew its holdings in shares of Outlook Therapeutics by 49.2% during the third quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after buying an additional 112,812 shares during the last quarter. State Street Corp increased its position in shares of Outlook Therapeutics by 10.0% in the 3rd quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after acquiring an additional 21,201 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 18,287 shares during the last quarter. Institutional investors and hedge funds 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.