BTIG Research Reaffirms Buy Rating for Outlook Therapeutics (NASDAQ:OTLK)

BTIG Research reaffirmed their buy rating on shares of Outlook Therapeutics (NASDAQ:OTLK - Free Report) in a report published on Friday, Benzinga reports. They currently have a $50.00 price target on the stock.

Other research analysts have also issued reports about the stock. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Outlook Therapeutics in a research note on Thursday, August 15th. Ascendiant Capital Markets cut their price objective on Outlook Therapeutics from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, September 3rd. Finally, Chardan Capital restated a "buy" rating and set a $53.00 target price on shares of Outlook Therapeutics in a research report on Friday, August 16th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $48.20.

Outlook Therapeutics Stock Performance

Shares of OTLK traded up $0.17 during mid-day trading on Friday, reaching $5.31. 960,706 shares of the company's stock were exchanged, compared to its average volume of 271,513. The business's fifty day simple moving average is $6.40 and its 200-day simple moving average is $7.40. Outlook Therapeutics has a 52-week low of $4.61 and a 52-week high of $18.00.

Outlook Therapeutics (NASDAQ:OTLK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.23. As a group, equities analysts predict that Outlook Therapeutics will post -3.63 EPS for the current year.

Insider Activity

In related news, CFO Lawrence A. Kenyon acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the transaction, the chief financial officer now directly owns 5,946 shares of the company's stock, valued at approximately $33,832.74. This trade represents a 500.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OTLK. AQR Capital Management LLC purchased a new position in shares of Outlook Therapeutics during the 2nd quarter worth $75,000. Squarepoint Ops LLC acquired a new stake in Outlook Therapeutics in the 2nd quarter worth about $232,000. Susquehanna Fundamental Investments LLC acquired a new stake in Outlook Therapeutics in the 2nd quarter worth about $303,000. LVW Advisors LLC purchased a new stake in Outlook Therapeutics in the 2nd quarter valued at about $352,000. Finally, Rosalind Advisors Inc. increased its stake in shares of Outlook Therapeutics by 44.3% during the 2nd quarter. Rosalind Advisors Inc. now owns 450,000 shares of the company's stock valued at $3,321,000 after acquiring an additional 138,225 shares during the last quarter. Institutional investors and hedge funds 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.