Outlook Therapeutics (NASDAQ:OTLK) Price Target Cut to $24.00 by Analysts at Ascendiant Capital Markets

Outlook Therapeutics (NASDAQ:OTLK) had its price objective cut by Ascendiant Capital Markets from $33.00 to $24.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on OTLK. Chardan Capital reissued a “neutral” rating and set a $3.00 target price on shares of Outlook Therapeutics in a research note on Tuesday, February 18th. Guggenheim reissued a “buy” rating and set a $12.00 target price on shares of Outlook Therapeutics in a report on Friday, January 17th. HC Wainwright cut their target price on Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, BTIG Research lowered their price target on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Outlook Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $10.20.

Outlook Therapeutics Price Performance

OTLK opened at $1.50 on Monday. The stock’s 50 day moving average price is $1.89 and its 200 day moving average price is $4.17. The stock has a market cap of $48.03 million, a P/E ratio of -0.20 and a beta of 0.58. Outlook Therapeutics has a 12 month low of $0.87 and a 12 month high of $12.85.

Outlook Therapeutics (NASDAQ:OTLK) last issued its quarterly earnings results on Friday, February 14th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.04). Equities analysts anticipate that Outlook Therapeutics will post -2.27 EPS for the current year.

Institutional Trading of Outlook Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in OTLK. Russell Investments Group Ltd. boosted its holdings in Outlook Therapeutics by 34,936.7% during the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock worth $32,000 after buying an additional 17,119 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Outlook Therapeutics during the 4th quarter valued at $48,000. Jane Street Group LLC boosted its stake in shares of Outlook Therapeutics by 133.9% during the 4th quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock worth $50,000 after acquiring an additional 15,008 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Outlook Therapeutics by 44.8% in the 4th quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock worth $56,000 after acquiring an additional 9,211 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Outlook Therapeutics by 677.4% in the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after acquiring an additional 18,249 shares during the last quarter. 11.20% of the stock is currently owned by institutional investors.

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.