Outlook Therapeutics, Inc. (NASDAQ:OTLK) Given Average Rating of “Buy” by Analysts

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) have been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $48.20.

Several brokerages recently issued reports on OTLK. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Outlook Therapeutics in a research note on Thursday, August 15th. Chardan Capital restated a “buy” rating and set a $53.00 price objective on shares of Outlook Therapeutics in a research note on Friday, August 16th. Finally, Ascendiant Capital Markets reduced their price objective on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd.

Outlook Therapeutics Trading Down 8.3 %

Outlook Therapeutics stock opened at $5.93 on Tuesday. The stock has a 50 day moving average of $7.63 and a 200-day moving average of $7.88. Outlook Therapeutics has a 52 week low of $4.09 and a 52 week high of $18.00.

Outlook Therapeutics (NASDAQ:OTLK) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.23. On average, analysts forecast that Outlook Therapeutics will post -3.65 earnings per share for the current year.

Institutional Investors Weigh In On Outlook Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Great Point Partners LLC increased its position in 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 buying an additional 221,510 shares during the period. Rosalind Advisors Inc. increased its holdings 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 valued at $3,321,000 after purchasing an additional 138,225 shares during the period. LVW Advisors LLC acquired a new position in shares of Outlook Therapeutics during the second quarter valued at $352,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Outlook Therapeutics during the second quarter valued at $303,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Outlook Therapeutics during the second quarter valued at $232,000. 11.20% of the stock is owned by institutional investors and hedge funds.

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.