Outlook Therapeutics (NASDAQ:OTLK) Earns Buy Rating from Guggenheim

Outlook Therapeutics (NASDAQ:OTLK)‘s stock had its “buy” rating restated by investment analysts at Guggenheim in a report issued on Friday,Benzinga reports. They presently have a $12.00 price objective on the stock. Guggenheim’s price objective points to a potential upside of 447.95% from the company’s current price.

A number of other equities research analysts have also recently issued reports on OTLK. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Outlook Therapeutics in a research report on Friday. BTIG Research decreased their price objective on shares of Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, Chardan Capital restated a “neutral” rating on shares of Outlook Therapeutics in a research note on Monday, December 2nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Outlook Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $28.07.

Outlook Therapeutics Price Performance

Shares of OTLK opened at $2.19 on Friday. Outlook Therapeutics has a one year low of $0.87 and a one year high of $12.85. The firm has a 50-day moving average of $2.78 and a 200-day moving average of $5.39. The company has a market cap of $54.55 million, a PE ratio of -0.24 and a beta of 0.53.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings results on Friday, December 27th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.06. Analysts expect that Outlook Therapeutics will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On Outlook Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great Point Partners LLC raised its holdings in shares of 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 purchasing an additional 221,510 shares during the period. Geode Capital Management LLC raised its stake in Outlook Therapeutics by 49.2% during the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock worth $1,826,000 after buying an additional 112,812 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Outlook Therapeutics during the 2nd quarter worth approximately $303,000. XTX Topco Ltd acquired a new stake in Outlook Therapeutics in the third quarter valued at approximately $199,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Outlook Therapeutics during the second quarter valued at approximately $232,000. 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.