Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives $42.34 Consensus Price Target from Brokerages

Outlook Therapeutics, Inc. (NASDAQ:OTLK) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $42.34.

A number of equities research analysts have issued reports on the stock. BTIG Research cut their price target on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, November 29th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a research note on Friday, November 29th. Chardan Capital restated a “neutral” rating on shares of Outlook Therapeutics in a report on Monday, December 2nd. Finally, Ascendiant Capital Markets dropped their price objective on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd.

Outlook Therapeutics Stock Performance

Shares of Outlook Therapeutics stock opened at $1.47 on Thursday. Outlook Therapeutics has a 52-week low of $0.87 and a 52-week high of $12.85. The company’s 50 day moving average price is $4.02 and its 200-day moving average price is $6.00. The stock has a market capitalization of $34.77 million, a price-to-earnings ratio of -0.14 and a beta of 0.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in Outlook Therapeutics in the second quarter worth $75,000. Christensen King & Associates Investment Services Inc. purchased a new stake in shares of Outlook Therapeutics in the 3rd quarter worth about $55,000. Barclays PLC increased its stake in shares of Outlook Therapeutics by 677.4% in the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after acquiring an additional 18,249 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Outlook Therapeutics by 55.1% during the 3rd 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. Finally, State Street Corp boosted its stake 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 acquiring an additional 21,201 shares in the last quarter. Hedge funds and other 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.