Outlook Therapeutics (NASDAQ:OTLK) Stock Price Up 5.4%

Outlook Therapeutics, Inc. (NASDAQ:OTLK - Get Free Report)'s stock price was up 5.4% during mid-day trading on Friday . The company traded as high as $6.07 and last traded at $6.04. Approximately 28,955 shares traded hands during trading, a decline of 74% from the average daily volume of 109,805 shares. The stock had previously closed at $5.73.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OTLK shares. Brookline Capital Management upgraded Outlook Therapeutics from a "hold" rating to a "buy" rating and set a $31.40 price objective on the stock in a research note on Thursday, January 25th. Ascendiant Capital Markets boosted their price objective on Outlook Therapeutics from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, December 29th. Capital One Financial reiterated an "overweight" rating on shares of Outlook Therapeutics in a research note on Friday, February 16th. Guggenheim upgraded Outlook Therapeutics from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research note on Thursday, January 25th. Finally, Chardan Capital upgraded Outlook Therapeutics from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a research note on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Outlook Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $47.34.

Outlook Therapeutics Stock Performance

The stock has a market capitalization of $2.14 billion and a P/E ratio of -41.20. The firm has a 50-day moving average price of $8.04 and a 200 day moving average price of $7.79.

Outlook Therapeutics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.20. On average, equities analysts anticipate that Outlook Therapeutics, Inc. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Outlook Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of OTLK. BNP Paribas Arbitrage SA grew its position in Outlook Therapeutics by 174.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 25,837 shares of the company's stock worth $26,000 after acquiring an additional 16,414 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Outlook Therapeutics by 209.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 23,546 shares of the company's stock worth $26,000 after buying an additional 15,928 shares during the period. Virtu Financial LLC purchased a new stake in Outlook Therapeutics in the 4th quarter worth approximately $27,000. Commonwealth Equity Services LLC lifted its holdings in Outlook Therapeutics by 60.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 26,522 shares of the company's stock worth $28,000 after buying an additional 10,000 shares during the period. Finally, CI Private Wealth LLC purchased a new stake in Outlook Therapeutics in the 4th quarter worth approximately $31,000. 11.20% of the stock is currently 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.