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

Outlook Therapeutics (NASDAQ:OTLK) had its target price decreased by BTIG Research from $50.00 to $9.00 in a research report sent to investors on Friday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other analysts have also commented on the company. Ascendiant Capital Markets dropped their target price on Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Outlook Therapeutics in a research note on Friday. Finally, Chardan Capital reiterated a “buy” rating and issued a $53.00 target price on shares of Outlook Therapeutics in a research note on Friday, August 16th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Outlook Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $42.34.

Outlook Therapeutics Stock Performance

NASDAQ:OTLK opened at $2.05 on Friday. The firm’s fifty day moving average is $5.29 and its two-hundred day moving average is $6.71. The firm has a market cap of $48.50 million, a price-to-earnings ratio of -0.19 and a beta of 0.62. Outlook Therapeutics has a one year low of $0.87 and a one year high of $12.85.

Insider Buying and Selling

In other news, CFO Lawrence A. Kenyon acquired 5,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the acquisition, the chief financial officer now owns 5,946 shares in the company, valued at approximately $33,832.74. This represents a 528.54 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is owned by insiders.

Institutional Trading of Outlook Therapeutics

Several large investors have recently made changes to their positions in the company. Barclays PLC boosted its position in Outlook Therapeutics by 677.4% during the third 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. Geode Capital Management LLC lifted its position in Outlook Therapeutics by 49.2% during the third 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 in the last quarter. XTX Topco Ltd acquired a new position in Outlook Therapeutics during the third quarter worth $199,000. State Street Corp grew its holdings in Outlook Therapeutics by 10.0% in the 3rd quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after buying an additional 21,201 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Outlook Therapeutics by 55.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock worth $275,000 after acquiring an additional 18,287 shares during the last quarter. 11.20% of the stock is currently owned by hedge funds and other institutional investors.

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.