Outlook Therapeutics’ (OTLK) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Outlook Therapeutics (NASDAQ:OTLK) in a report released on Friday,Benzinga reports. The firm currently has a $30.00 price target on the stock.

OTLK has been the subject of several other reports. BTIG Research restated a “buy” rating and issued a $50.00 target price on shares of Outlook Therapeutics in a report on Friday, October 18th. Ascendiant Capital Markets dropped their price objective on shares of Outlook Therapeutics from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Finally, Chardan Capital reaffirmed a “buy” rating and set a $53.00 target price on shares of Outlook Therapeutics in a research note on Friday, August 16th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Outlook Therapeutics has an average rating of “Buy” and a consensus target price of $42.34.

Outlook Therapeutics Price Performance

Shares of Outlook Therapeutics stock opened at $2.05 on Friday. The stock’s 50 day simple moving average is $5.29 and its 200-day simple moving average is $6.70. The stock has a market cap of $48.50 million, a P/E ratio of -0.19 and a beta of 0.62. Outlook Therapeutics has a 1-year low of $0.87 and a 1-year high of $12.85.

Insider Activity at Outlook Therapeutics

In other news, CFO Lawrence A. Kenyon purchased 5,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,946 shares in the company, valued at approximately $33,832.74. This represents a 528.54 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Outlook Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of OTLK. Great Point Partners LLC grew its position in Outlook Therapeutics by 15.0% in the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after acquiring an additional 221,510 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Outlook Therapeutics in the second quarter valued at approximately $303,000. Squarepoint Ops LLC purchased a new stake in Outlook Therapeutics during the 2nd quarter worth approximately $232,000. Christensen King & Associates Investment Services Inc. purchased a new stake in Outlook Therapeutics during the 3rd quarter worth approximately $55,000. Finally, AQR Capital Management LLC acquired a new stake in Outlook Therapeutics during the 2nd quarter worth approximately $75,000. Hedge funds and other institutional investors own 11.20% of the company’s stock.

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.