Ascendiant Capital Markets Cuts Outlook Therapeutics (NASDAQ:OTLK) Price Target to $24.00

Outlook Therapeutics (NASDAQ:OTLK) had its target price decreased by Ascendiant Capital Markets from $33.00 to $24.00 in a research note issued to investors on Monday morning,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Chardan Capital reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Outlook Therapeutics in a research note on Tuesday, February 18th. Guggenheim reaffirmed a “buy” rating and issued a $12.00 target price on shares of Outlook Therapeutics in a research report on Friday, January 17th. BTIG Research lowered their price target on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Finally, HC Wainwright dropped their price objective on shares of Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Outlook Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $10.20.

Outlook Therapeutics Price Performance

Shares of NASDAQ OTLK opened at $1.52 on Monday. Outlook Therapeutics has a 1 year low of $0.87 and a 1 year high of $12.85. The stock has a market capitalization of $48.67 million, a P/E ratio of -0.20 and a beta of 0.58. The company’s 50-day moving average is $1.89 and its 200 day moving average is $4.21.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings data on Friday, February 14th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.04). Research analysts anticipate that Outlook Therapeutics will post -2.27 earnings per share for the current year.

Hedge Funds Weigh In On Outlook Therapeutics

A number of hedge funds have recently bought and sold shares of OTLK. Jane Street Group LLC increased its position in shares of Outlook Therapeutics by 133.9% during the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock valued at $50,000 after acquiring an additional 15,008 shares in the last quarter. Scotia Capital Inc. boosted its stake in Outlook Therapeutics by 124.4% during the 4th quarter. Scotia Capital Inc. now owns 73,989 shares of the company’s stock valued at $140,000 after purchasing an additional 41,023 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Outlook Therapeutics in the 4th quarter worth $246,000. Russell Investments Group Ltd. raised its stake in shares of Outlook Therapeutics by 34,936.7% in the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock worth $32,000 after purchasing an additional 17,119 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in shares of Outlook Therapeutics during the fourth quarter valued at $48,000. 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.