Outlook Therapeutics (NASDAQ:OTLK) Price Target Lowered to $21.00 at Ascendiant Capital Markets

Outlook Therapeutics (NASDAQ:OTLK - Free Report) had its price objective trimmed by Ascendiant Capital Markets from $24.00 to $21.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Guggenheim reaffirmed a "buy" rating on shares of Outlook Therapeutics in a research note on Tuesday, May 20th. Chardan Capital reaffirmed a "neutral" rating and issued a $3.00 price target on shares of Outlook Therapeutics in a research report on Tuesday, February 18th. Finally, HC Wainwright cut their price target on Outlook Therapeutics from $30.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Outlook Therapeutics has an average rating of "Moderate Buy" and an average price target of $9.60.

Outlook Therapeutics Stock Performance

Outlook Therapeutics stock traded up $0.03 during mid-day trading on Friday, reaching $1.90. The stock had a trading volume of 663,369 shares, compared to its average volume of 787,720. The firm has a market capitalization of $63.78 million, a PE ratio of -0.26 and a beta of 0.39. Outlook Therapeutics has a fifty-two week low of $0.87 and a fifty-two week high of $9.25. The stock's 50-day simple moving average is $1.54 and its 200-day simple moving average is $1.78.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OTLK. Goldman Sachs Group Inc. grew its position in Outlook Therapeutics by 74.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock worth $126,000 after purchasing an additional 44,063 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Outlook Therapeutics by 42.7% in the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company's stock valued at $103,000 after acquiring an additional 25,351 shares in the last quarter. Jane Street Group LLC increased its position in shares of Outlook Therapeutics by 133.9% during the fourth quarter. Jane Street Group LLC now owns 26,218 shares of the company's stock valued at $50,000 after acquiring an additional 15,008 shares during the last quarter. Scotia Capital Inc. lifted its holdings in Outlook Therapeutics by 124.4% during 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 period. Finally, Renaissance Technologies LLC purchased a new position in Outlook Therapeutics in the fourth quarter worth $246,000. 11.20% of the stock is 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.