HC Wainwright Reiterates “Buy” Rating for Outlook Therapeutics (NASDAQ:OTLK)

Outlook Therapeutics (NASDAQ:OTLK)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $30.00 price objective on the stock.

Several other research firms have also recently issued reports on OTLK. Chardan Capital reiterated a “buy” rating and set a $53.00 target price on shares of Outlook Therapeutics in a research report on Friday, August 16th. BTIG Research reiterated a “buy” rating and set a $50.00 price objective on shares of Outlook Therapeutics in a research report on Friday, October 18th. Finally, Ascendiant Capital Markets dropped their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $48.20.

Outlook Therapeutics Stock Performance

Shares of OTLK stock opened at $1.70 on Friday. The stock has a fifty day simple moving average of $5.37 and a two-hundred day simple moving average of $6.75. The firm has a market capitalization of $40.22 million, a PE ratio of -0.16 and a beta of 0.62. Outlook Therapeutics has a 52-week low of $0.87 and a 52-week high of $12.85.

Insiders Place Their Bets

In related news, CFO Lawrence A. Kenyon acquired 5,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,946 shares in the company, valued at approximately $33,832.74. This trade represents a 528.54 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Outlook Therapeutics

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in Outlook Therapeutics during the second quarter worth $75,000. Christensen King & Associates Investment Services Inc. purchased a new position in shares of Outlook Therapeutics during the 3rd quarter worth about $55,000. Barclays PLC grew its holdings 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 during 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 worth $275,000 after purchasing an additional 18,287 shares during the period. Finally, State Street Corp boosted its holdings in Outlook Therapeutics by 10.0% during the 3rd quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after acquiring an additional 21,201 shares during the period. Institutional investors 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.