Outlook Therapeutics (NASDAQ:OTLK) Rating Increased to Buy at BTIG Research

Outlook Therapeutics (NASDAQ:OTLK) was upgraded by investment analysts at BTIG Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm presently has a $50.00 price target on the stock. BTIG Research’s target price indicates a potential upside of 318.76% from the company’s current price.

Several other equities analysts have also recently commented on OTLK. Guggenheim upgraded shares of Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday, January 25th. Chardan Capital upgraded Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Thursday, February 15th. HC Wainwright raised their price objective on Outlook Therapeutics to $30.00 and gave the stock a “buy” rating in a research report on Monday. Ascendiant Capital Markets lifted their price objective on Outlook Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, December 29th. Finally, Capital One Financial restated an “overweight” rating on shares of Outlook Therapeutics in a research note on Friday, February 16th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Outlook Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.43.

Outlook Therapeutics Trading Up 27.4 %

Shares of Outlook Therapeutics stock opened at $11.94 on Wednesday. Outlook Therapeutics has a 1 year low of $4.00 and a 1 year high of $40.60. The company has a market cap of $155.34 million and a P/E ratio of -2.99. The stock has a 50-day moving average price of $8.21 and a 200 day moving average price of $7.87.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.20. On average, equities analysts forecast that Outlook Therapeutics will post -2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Outlook Therapeutics by 14.2% in the second quarter. BlackRock Inc. now owns 9,215,800 shares of the company’s stock worth $16,035,000 after acquiring an additional 1,148,372 shares during the period. State Street Corp lifted its position in shares of Outlook Therapeutics by 36.2% in the 2nd quarter. State Street Corp now owns 2,751,977 shares of the company’s stock worth $4,788,000 after purchasing an additional 731,925 shares during the period. Geode Capital Management LLC boosted its stake in shares of Outlook Therapeutics by 23.1% in the 1st quarter. Geode Capital Management LLC now owns 2,537,675 shares of the company’s stock valued at $2,766,000 after purchasing an additional 475,477 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Outlook Therapeutics by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 6,560,400 shares of the company’s stock worth $2,585,000 after buying an additional 277,326 shares during the period. Finally, Scotia Capital Inc. raised its stake in Outlook Therapeutics by 420.9% during the third quarter. Scotia Capital Inc. now owns 338,439 shares of the company’s stock worth $75,000 after buying an additional 273,463 shares during the last quarter. 11.20% of the stock is owned by institutional investors and hedge funds.

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.