BTIG Research Lowers Outlook Therapeutics (NASDAQ:OTLK) Price Target to $9.00

Outlook Therapeutics (NASDAQ:OTLK) had its price objective lowered by analysts at BTIG Research from $50.00 to $9.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 429.41% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on OTLK. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Outlook Therapeutics in a research report on Friday. Ascendiant Capital Markets reduced their price target on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Finally, Chardan Capital restated a “buy” rating and issued a $53.00 price target on shares of Outlook Therapeutics in a research report on Friday, August 16th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Outlook Therapeutics has an average rating of “Buy” and an average target price of $42.34.

Outlook Therapeutics Price Performance

Outlook Therapeutics stock opened at $1.70 on Friday. The stock has a market cap of $40.22 million, a P/E ratio of -0.16 and a beta of 0.62. Outlook Therapeutics has a 1 year low of $0.87 and a 1 year high of $12.85. The firm’s 50 day moving average price is $5.37 and its 200-day moving average price is $6.75.

Insider Buying and Selling at Outlook Therapeutics

In other news, CFO Lawrence A. Kenyon acquired 5,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were acquired at an average price of $5.69 per share, for a total transaction of $28,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,946 shares of the company’s stock, valued at approximately $33,832.74. The trade was a 528.54 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Great Point Partners LLC increased its position in Outlook Therapeutics by 15.0% during the second quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after acquiring an additional 221,510 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Outlook Therapeutics during the second quarter valued at $303,000. Squarepoint Ops LLC bought a new position in shares of Outlook Therapeutics in the second quarter worth about $232,000. Christensen King & Associates Investment Services Inc. bought a new position in shares of Outlook Therapeutics in the third quarter worth about $55,000. Finally, AQR Capital Management LLC bought a new position in shares of Outlook Therapeutics in the second quarter worth about $75,000. 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.