Ascendiant Capital Markets Cuts Outlook Therapeutics (NASDAQ:OTLK) Price Target to $24.00

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

Several other equities research analysts also recently issued reports on OTLK. Guggenheim reiterated a “buy” rating and set a $12.00 price objective on shares of Outlook Therapeutics in a research note on Friday, January 17th. Chardan Capital reaffirmed a “neutral” rating and set a $3.00 price target on shares of Outlook Therapeutics in a research report on Tuesday, February 18th. BTIG Research lowered their price target on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, HC Wainwright reduced their price objective on Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.20.

Outlook Therapeutics Trading Up 1.4 %

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

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data on Friday, February 14th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.04). As a group, sell-side analysts predict that Outlook Therapeutics will post -2.27 EPS for the current year.

Institutional Investors Weigh In On Outlook Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in Outlook Therapeutics by 1,329.6% in the 4th 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 last quarter. Renaissance Technologies LLC acquired a new position in shares of Outlook Therapeutics in the fourth quarter worth about $246,000. Geode Capital Management LLC boosted its holdings in Outlook Therapeutics by 49.2% in the third quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock valued at $1,826,000 after purchasing an additional 112,812 shares during the last quarter. Scotia Capital Inc. grew its stake in Outlook Therapeutics by 124.4% during the 4th quarter. Scotia Capital Inc. now owns 73,989 shares of the company’s stock valued at $140,000 after purchasing an additional 41,023 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Outlook Therapeutics during the 3rd quarter valued at approximately $199,000. 11.20% of the stock is owned by institutional investors and hedge funds.

About Outlook Therapeutics

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.