Outlook Therapeutics (NASDAQ:OTLK) Given New $24.00 Price Target at Ascendiant Capital Markets

Outlook Therapeutics (NASDAQ:OTLK) had its price objective cut by equities researchers at Ascendiant Capital Markets from $33.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

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

Outlook Therapeutics Price Performance

Shares of NASDAQ:OTLK opened at $1.56 on Monday. Outlook Therapeutics has a one year low of $0.87 and a one year high of $12.85. The company has a market cap of $49.95 million, a price-to-earnings ratio of -0.21 and a beta of 0.58. The firm has a 50 day simple moving average of $1.89 and a 200 day simple moving average of $4.26.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OTLK. Russell Investments Group Ltd. raised its stake 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 during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Outlook Therapeutics in the 4th quarter worth about $48,000. Jane Street Group LLC lifted its stake in shares of Outlook Therapeutics by 133.9% in the 4th quarter. Jane Street Group LLC now owns 26,218 shares of the company’s stock valued at $50,000 after purchasing an additional 15,008 shares during the period. Bank of New York Mellon Corp lifted its stake 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 valued at $56,000 after purchasing an additional 9,211 shares during the period. Finally, Barclays PLC boosted its position in shares of Outlook Therapeutics by 677.4% during the 3rd quarter. Barclays PLC now owns 20,943 shares of the company’s stock valued at $111,000 after purchasing an additional 18,249 shares in the last quarter. Institutional investors and hedge funds 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.