Outlook Therapeutics’ (OTLK) Buy Rating Reiterated at BTIG Research

Outlook Therapeutics (NASDAQ:OTLK)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a research note issued to investors on Friday, Benzinga reports. They presently have a $50.00 target price on the stock.

Several other analysts have also weighed in on the stock. Ascendiant Capital Markets decreased their target price on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Chardan Capital restated a “buy” rating and issued a $53.00 price target on shares of Outlook Therapeutics in a research report on Friday, August 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Outlook Therapeutics in a report on Thursday, August 15th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $48.20.

Outlook Therapeutics Stock Performance

Outlook Therapeutics stock remained flat at $5.14 during mid-day trading on Friday. 489,183 shares of the company’s stock were exchanged, compared to its average volume of 350,291. The stock’s 50 day simple moving average is $6.44 and its 200 day simple moving average is $7.43. Outlook Therapeutics has a 12-month low of $4.61 and a 12-month high of $18.00. The stock has a market cap of $120.31 million, a price-to-earnings ratio of -0.45 and a beta of 0.62.

Outlook Therapeutics (NASDAQ:OTLK) last issued its earnings results on Wednesday, August 14th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.23. On average, equities research analysts predict that Outlook Therapeutics will post -3.63 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Lawrence A. Kenyon bought 5,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was bought at an average cost of $5.69 per share, with a total value of $28,450.00. Following the purchase, the chief financial officer now owns 5,946 shares of the company’s stock, valued at approximately $33,832.74. This represents a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Outlook Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Great Point Partners LLC raised its position in shares of Outlook Therapeutics by 15.0% during the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after acquiring an additional 221,510 shares during the last quarter. Rosalind Advisors Inc. boosted its position 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 worth $3,321,000 after purchasing an additional 138,225 shares in the last quarter. LVW Advisors LLC bought a new position in shares of Outlook Therapeutics during the second quarter worth $352,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Outlook Therapeutics in the 2nd quarter valued at $303,000. Finally, Squarepoint Ops LLC acquired a new stake in Outlook Therapeutics during the 2nd quarter worth $232,000. 11.20% of the stock is owned by institutional investors.

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.