Outlook Therapeutics’ (OTLK) Buy Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Outlook Therapeutics (NASDAQ:OTLK) in a report issued on Friday morning,Benzinga reports. They currently have a $12.00 target price on the stock.

A number of other brokerages have also commented on OTLK. Chardan Capital reaffirmed a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Outlook Therapeutics in a research note on Friday. Finally, BTIG Research lowered their target price on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.07.

Outlook Therapeutics Stock Up 1.8 %

Shares of OTLK stock opened at $2.23 on Friday. The firm has a 50 day moving average of $2.70 and a 200-day moving average of $5.35. The company has a market cap of $55.54 million, a price-to-earnings ratio of -0.25 and a beta of 0.53. Outlook Therapeutics has a 52 week low of $0.87 and a 52 week high of $12.85.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings results on Friday, December 27th. The company reported ($0.77) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.06. Analysts anticipate that Outlook Therapeutics will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On Outlook Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Great Point Partners LLC raised its stake in shares of Outlook Therapeutics by 15.0% in the second 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 during the last quarter. Geode Capital Management LLC grew its holdings in Outlook Therapeutics by 49.2% during the third quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock worth $1,826,000 after buying an additional 112,812 shares in the last quarter. State Street Corp grew its holdings 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 buying an additional 21,201 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 valued at $275,000 after buying an additional 18,287 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Outlook Therapeutics during the 2nd quarter valued at $303,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

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.