Guggenheim Reaffirms Buy Rating for Outlook Therapeutics (NASDAQ:OTLK)

Outlook Therapeutics (NASDAQ:OTLK)‘s stock had its “buy” rating reissued by investment analysts at Guggenheim in a note issued to investors on Friday,Benzinga reports. They currently have a $12.00 target price on the stock. Guggenheim’s price target would indicate a potential upside of 447.95% from the stock’s current price.

OTLK has been the subject of several other reports. Chardan Capital reiterated a “neutral” rating on shares of Outlook Therapeutics in a research note on Monday, December 2nd. BTIG Research dropped their price objective on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Outlook Therapeutics in a research report on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Outlook Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $28.07.

Outlook Therapeutics Trading Down 4.8 %

Shares of NASDAQ OTLK opened at $2.19 on Friday. The stock has a fifty day simple moving average of $2.78 and a two-hundred day simple moving average of $5.39. Outlook Therapeutics has a 1-year low of $0.87 and a 1-year high of $12.85. The firm has a market cap of $54.55 million, a price-to-earnings ratio of -0.24 and a beta of 0.53.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings results on Friday, December 27th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.06. Analysts forecast that Outlook Therapeutics will post -2.33 EPS for the current year.

Institutional Trading of Outlook Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Great Point Partners LLC raised its holdings 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 purchasing an additional 221,510 shares in the last quarter. Geode Capital Management LLC grew its position in Outlook Therapeutics by 49.2% during the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after purchasing an additional 112,812 shares during the last quarter. State Street Corp increased its stake 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 purchasing an additional 21,201 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Outlook Therapeutics by 55.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock worth $275,000 after buying an additional 18,287 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Outlook Therapeutics in the second quarter worth approximately $303,000. 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.