Outlook Therapeutics, Inc. (NASDAQ:OTLK) Given Consensus Recommendation of "Buy" by Analysts

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK - Get Free Report) have been assigned an average rating of "Buy" from the seven research firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $48.20.

A number of research analysts recently issued reports on the company. Ascendiant Capital Markets reduced 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. BTIG Research reaffirmed a "buy" rating and set a $50.00 target price on shares of Outlook Therapeutics in a research note on Friday, October 18th. 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. Finally, HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Outlook Therapeutics in a research note on Thursday, August 15th.

Insider Transactions at Outlook Therapeutics

In other Outlook Therapeutics news, CFO Lawrence A. Kenyon bought 5,000 shares of Outlook Therapeutics 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 completion of the acquisition, the chief financial officer now owns 5,946 shares of the company's stock, valued at approximately $33,832.74. This represents a 528.54 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Outlook Therapeutics

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

Outlook Therapeutics Price Performance

NASDAQ:OTLK traded down $0.10 during midday trading on Friday, reaching $5.03. 330,677 shares of the company traded hands, compared to its average volume of 238,654. Outlook Therapeutics has a twelve month low of $4.61 and a twelve month high of $12.85. The firm has a market capitalization of $119.01 million, a price-to-earnings ratio of -0.47 and a beta of 0.62. The company has a fifty day moving average price of $5.58 and a 200 day moving average price of $6.87.

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.