Outlook Therapeutics (NASDAQ:OTLK) Price Target Cut to $9.00 by Analysts at BTIG Research

Outlook Therapeutics (NASDAQ:OTLK) had its target price lowered by BTIG Research from $50.00 to $9.00 in a report released on Friday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. 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. Ascendiant Capital Markets decreased their price target 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Outlook Therapeutics in a research report on Friday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $42.34.

Outlook Therapeutics Stock Up 20.6 %

Outlook Therapeutics stock opened at $2.05 on Friday. The firm has a market cap of $48.50 million, a P/E ratio of -0.19 and a beta of 0.62. The business has a fifty day moving average of $5.29 and a two-hundred day moving average of $6.71. Outlook Therapeutics has a twelve month low of $0.87 and a twelve month 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 that occurred on Thursday, September 26th. The stock was purchased at an average cost of $5.69 per share, with a total value of $28,450.00. Following the transaction, the chief financial officer now directly owns 5,946 shares of the company’s stock, valued at $33,832.74. This trade represents a 528.54 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Outlook Therapeutics

Several large investors have recently bought and sold shares of OTLK. Rosalind Advisors Inc. raised its holdings in shares of Outlook Therapeutics by 44.3% in the second quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company’s stock worth $3,321,000 after buying an additional 138,225 shares during the last quarter. LVW Advisors LLC acquired a new position in shares of Outlook Therapeutics in the 2nd quarter valued at $352,000. Great Point Partners LLC raised its stake in Outlook Therapeutics by 15.0% in the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock worth $12,557,000 after acquiring an additional 221,510 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Outlook Therapeutics during the 2nd quarter worth about $232,000. Finally, AQR Capital Management LLC purchased a new stake in Outlook Therapeutics during the 2nd quarter valued at about $75,000. Hedge funds and other 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.