Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives Consensus Recommendation of “Buy” from Brokerages

Outlook Therapeutics, Inc. (NASDAQ:OTLK) has received a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $48.20.

OTLK has been the subject of several recent analyst reports. Ascendiant Capital Markets cut their price objective on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. BTIG Research reaffirmed a “buy” rating and set a $50.00 target price on shares of Outlook Therapeutics in a report on Friday, October 18th. Chardan Capital reissued a “buy” rating and issued a $53.00 price objective on shares of Outlook Therapeutics in a research report on Friday, August 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Outlook Therapeutics in a research note on Thursday, August 15th.

Outlook Therapeutics Price Performance

Shares of Outlook Therapeutics stock opened at $5.03 on Friday. The company has a market capitalization of $119.01 million, a price-to-earnings ratio of -0.47 and a beta of 0.62. Outlook Therapeutics has a 1 year low of $4.61 and a 1 year high of $12.85. The business has a fifty day simple moving average of $5.58 and a two-hundred day simple moving average of $6.88.

Insiders Place Their Bets

In related news, CFO Lawrence A. Kenyon bought 5,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the completion of the purchase, the chief financial officer now directly owns 5,946 shares in the company, valued at $33,832.74. The trade was a 528.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Outlook Therapeutics

Several institutional investors have recently bought and sold shares of the company. Christensen King & Associates Investment Services Inc. bought a new stake in shares of Outlook Therapeutics during the 3rd quarter valued at $55,000. AQR Capital Management LLC purchased a new stake in shares of Outlook Therapeutics during the 2nd quarter valued at $75,000. Barclays PLC raised its position in shares of Outlook Therapeutics by 677.4% during the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after buying an additional 18,249 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Outlook Therapeutics during the 3rd quarter worth $199,000. Finally, Squarepoint Ops LLC purchased a new position in Outlook Therapeutics in the second quarter worth $232,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

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.