Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives $9.60 Consensus Price Target from Analysts

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK - Get Free Report) have received a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.60.

OTLK has been the topic of several analyst reports. Ascendiant Capital Markets cut their price target on shares of Outlook Therapeutics from $24.00 to $21.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. Chardan Capital reiterated a "neutral" rating and issued a $3.00 price objective on shares of Outlook Therapeutics in a report on Tuesday, February 18th. Guggenheim reiterated a "buy" rating on shares of Outlook Therapeutics in a research note on Tuesday, May 20th. Finally, HC Wainwright dropped their price objective on shares of Outlook Therapeutics from $30.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th.

Institutional Investors Weigh In On Outlook Therapeutics

Large investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of Outlook Therapeutics by 1,329.6% during the 4th quarter. Rhumbline Advisers now owns 188,050 shares of the company's stock worth $355,000 after buying an additional 174,896 shares in the last quarter. Renaissance Technologies LLC bought a new position in Outlook Therapeutics in the fourth quarter valued at about $246,000. Goldman Sachs Group Inc. raised its stake in Outlook Therapeutics by 74.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock worth $126,000 after acquiring an additional 44,063 shares in the last quarter. Scotia Capital Inc. lifted its holdings in shares of Outlook Therapeutics by 124.4% in the fourth quarter. Scotia Capital Inc. now owns 73,989 shares of the company's stock worth $140,000 after acquiring an additional 41,023 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in shares of Outlook Therapeutics in the fourth quarter worth about $48,000. Institutional investors and hedge funds own 11.20% of the company's stock.

Outlook Therapeutics Trading Down 2.7%

Shares of Outlook Therapeutics stock traded down $0.05 during trading on Monday, reaching $1.77. The stock had a trading volume of 481,312 shares, compared to its average volume of 799,482. Outlook Therapeutics has a 52 week low of $0.87 and a 52 week high of $9.25. The stock has a fifty day moving average price of $1.60 and a two-hundred day moving average price of $1.66. The company has a market capitalization of $59.42 million, a price-to-earnings ratio of -0.24 and a beta of 0.31.

Outlook Therapeutics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.15. On average, equities analysts forecast that Outlook Therapeutics will post -2.27 EPS for the current fiscal year.

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.