Outlook Therapeutics, Inc. (NASDAQ:OTLK) Receives $5.50 Average Target Price from Analysts

Posted by Defense World Staff on Jul 16th, 2023

Shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK – Get Free Report) have received an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.50.

OTLK has been the subject of a number of research analyst reports. Guggenheim initiated coverage on shares of Outlook Therapeutics in a research report on Monday, April 3rd. They set a “buy” rating and a $5.00 price objective for the company. Capital One Financial initiated coverage on shares of Outlook Therapeutics in a research report on Thursday. They set an “overweight” rating and a $5.00 price objective for the company.

Outlook Therapeutics Stock Performance

Shares of NASDAQ OTLK opened at $1.65 on Thursday. The company has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.27. Outlook Therapeutics has a 1 year low of $0.80 and a 1 year high of $2.03.

Outlook Therapeutics (NASDAQ:OTLK – Get Free Report) last announced its quarterly earnings results on Monday, May 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. On average, analysts anticipate that Outlook Therapeutics will post -0.21 EPS for the current fiscal year.

Insider Buying and Selling at Outlook Therapeutics

In other Outlook Therapeutics news, insider Terry Dagnon sold 520,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $1.14, for a total value of $592,800.00. Following the completion of the transaction, the insider now owns 653,058 shares of the company’s stock, valued at approximately $744,486.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Outlook Therapeutics

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in Outlook Therapeutics during the 4th quarter worth $40,000. Citadel Advisors LLC raised its stake in Outlook Therapeutics by 210.4% during the 3rd quarter. Citadel Advisors LLC now owns 32,801 shares of the company’s stock worth $40,000 after acquiring an additional 22,232 shares in the last quarter. Barclays PLC increased its stake in Outlook Therapeutics by 533.3% in the fourth quarter. Barclays PLC now owns 31,806 shares of the company’s stock valued at $34,000 after purchasing an additional 26,784 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Outlook Therapeutics by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,212 shares of the company’s stock valued at $32,000 after purchasing an additional 9,973 shares during the period. Finally, CI Private Wealth LLC acquired a new position in Outlook Therapeutics in the fourth quarter valued at $31,000. 10.58% of the stock is owned by hedge funds and other institutional investors.

About Outlook Therapeutics

(Get Free Report

Outlook Therapeutics, Inc, a late 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.