FY2024 EPS Estimates for Outlook Therapeutics, Inc. (NASDAQ:OTLK) Lowered by Analyst

Outlook Therapeutics, Inc. (NASDAQ:OTLK - Free Report) - Research analysts at Chardan Capital dropped their FY2024 EPS estimates for shares of Outlook Therapeutics in a report issued on Sunday, May 19th. Chardan Capital analyst D. Gataulin now expects that the company will post earnings per share of ($11.82) for the year, down from their prior estimate of ($2.80). Chardan Capital currently has a "Buy" rating and a $60.00 target price on the stock. The consensus estimate for Outlook Therapeutics' current full-year earnings is ($3.61) per share. Chardan Capital also issued estimates for Outlook Therapeutics' FY2025 earnings at ($3.22) EPS.

Other research analysts have also recently issued reports about the stock. Guggenheim raised shares of Outlook Therapeutics from a "neutral" rating to a "buy" rating and set a $40.00 price objective for the company in a research note on Thursday, January 25th. Brookline Capital Management raised shares of Outlook Therapeutics from a "hold" rating to a "buy" rating and set a $31.40 price objective for the company in a research note on Thursday, January 25th. Capital One Financial reaffirmed an "overweight" rating on shares of Outlook Therapeutics in a research note on Friday, February 16th. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Outlook Therapeutics in a research note on Friday, May 17th. Finally, BTIG Research raised shares of Outlook Therapeutics from a "neutral" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $46.43.

Outlook Therapeutics Stock Up 1.7 %

Shares of OTLK traded up $0.13 during mid-day trading on Wednesday, reaching $8.00. 224,916 shares of the company's stock were exchanged, compared to its average volume of 477,002. The company has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $8.41. Outlook Therapeutics has a 52-week low of $4.00 and a 52-week high of $40.60. The company has a market cap of $104.08 million, a price-to-earnings ratio of -0.70 and a beta of 0.28.

Hedge Funds Weigh In On Outlook Therapeutics

A hedge fund recently raised its stake in Outlook Therapeutics stock. Scotia Capital Inc. raised its stake in Outlook Therapeutics, Inc. (NASDAQ:OTLK - Free Report) by 420.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 338,439 shares of the company's stock after purchasing an additional 273,463 shares during the quarter. Scotia Capital Inc. owned about 0.13% of Outlook Therapeutics worth $75,000 at the end of the most recent quarter. 11.20% of the stock is currently owned by institutional investors and hedge funds.

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.