Brokerages Set Outlook Therapeutics, Inc. (NASDAQ:OTLK) Target Price at $27.40

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $27.40.

Several analysts have recently commented on OTLK shares. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a research note on Friday, January 17th. BTIG Research reduced their target price on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Chardan Capital restated a “neutral” rating on shares of Outlook Therapeutics in a research note on Monday, December 2nd. Finally, Guggenheim restated a “buy” rating and issued a $12.00 target price on shares of Outlook Therapeutics in a research note on Friday, January 17th.

Outlook Therapeutics Trading Up 5.7 %

OTLK stock opened at $1.84 on Friday. The stock has a 50-day moving average price of $1.86 and a 200-day moving average price of $4.56. Outlook Therapeutics has a 1-year low of $0.87 and a 1-year high of $12.85. The firm has a market cap of $58.84 million, a PE ratio of -0.21 and a beta of 0.58.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings data on Friday, December 27th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.06. On average, analysts forecast that Outlook Therapeutics will post -2.25 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 OTLK. Russell Investments Group Ltd. boosted its stake in Outlook Therapeutics by 34,936.7% during the 4th quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock valued at $32,000 after purchasing an additional 17,119 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Outlook Therapeutics during the 4th quarter valued at about $48,000. Christensen King & Associates Investment Services Inc. acquired a new position in Outlook Therapeutics during the 3rd quarter valued at about $55,000. Bank of New York Mellon Corp boosted its stake in Outlook Therapeutics by 44.8% during the 4th quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock valued at $56,000 after purchasing an additional 9,211 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in Outlook Therapeutics during the 2nd quarter valued at about $75,000. 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.