HC Wainwright Has Lowered Expectations for Outlook Therapeutics (NASDAQ:OTLK) Stock Price

Outlook Therapeutics (NASDAQ:OTLK) had its price objective reduced by HC Wainwright from $30.00 to $3.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

OTLK has been the topic of a number of other reports. Chardan Capital reiterated a “neutral” rating on shares of Outlook Therapeutics in a research note on Monday, December 2nd. BTIG Research cut their price objective on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Guggenheim restated a “buy” rating and issued a $12.00 target price on shares of Outlook Therapeutics in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Outlook Therapeutics Stock Down 8.6 %

OTLK opened at $1.71 on Tuesday. The company’s 50-day moving average price is $1.88 and its 200 day moving average price is $4.41. Outlook Therapeutics has a fifty-two week low of $0.87 and a fifty-two week high of $12.85. The firm has a market cap of $54.69 million, a price-to-earnings ratio of -0.19 and a beta of 0.58.

Outlook Therapeutics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, February 14th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.04). Research analysts anticipate that Outlook Therapeutics will post -2.25 earnings per share for the current year.

Institutional Investors Weigh In On Outlook Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Christensen King & Associates Investment Services Inc. acquired a new position in Outlook Therapeutics during the 3rd quarter valued at about $55,000. Charles Schwab Investment Management Inc. increased its stake in shares of Outlook Therapeutics by 55.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock valued at $275,000 after acquiring an additional 18,287 shares during the period. State Street Corp raised 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 purchasing an additional 21,201 shares in the last quarter. XTX Topco Ltd acquired a new stake in Outlook Therapeutics in the third quarter worth approximately $199,000. Finally, Barclays PLC boosted its stake in Outlook Therapeutics by 677.4% during the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after purchasing an additional 18,249 shares in the last quarter. 11.20% of the stock is currently owned by institutional investors.

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.