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

Outlook Therapeutics (NASDAQ:OTLK - Free Report) had its price target cut by Ascendiant Capital Markets from $24.00 to $21.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

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

Outlook Therapeutics Stock Performance

Shares of Outlook Therapeutics stock remained flat at $1.90 during trading on Friday. The stock had a trading volume of 612,250 shares, compared to its average volume of 789,462. The stock has a market capitalization of $63.78 million, a price-to-earnings ratio of -0.26 and a beta of 0.31. The firm's fifty day simple moving average is $1.55 and its two-hundred day simple moving average is $1.71. Outlook Therapeutics has a twelve month low of $0.87 and a twelve month high of $9.25.

Outlook Therapeutics (NASDAQ:OTLK - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.15. On average, analysts predict that Outlook Therapeutics will post -2.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its position in Outlook Therapeutics by 1,329.6% during the fourth quarter. Rhumbline Advisers now owns 188,050 shares of the company's stock valued at $355,000 after buying an additional 174,896 shares during the period. Renaissance Technologies LLC acquired a new position in Outlook Therapeutics during the fourth quarter valued at $246,000. Goldman Sachs Group Inc. raised its position in Outlook Therapeutics by 74.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,524 shares of the company's stock valued at $126,000 after buying an additional 44,063 shares during the period. AQR Capital Management LLC raised its position in Outlook Therapeutics by 42.7% during the first quarter. AQR Capital Management LLC now owns 84,671 shares of the company's stock valued at $103,000 after buying an additional 25,351 shares during the period. Finally, Scotia Capital Inc. raised its position in Outlook Therapeutics by 124.4% during the fourth quarter. Scotia Capital Inc. now owns 73,989 shares of the company's stock valued at $140,000 after buying an additional 41,023 shares during the period. 11.20% of the stock is owned by institutional investors and hedge funds.

Outlook Therapeutics Company Profile

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.