Outlook Therapeutics (NASDAQ:OTLK) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Outlook Therapeutics (NASDAQ:OTLK) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.

Several other brokerages have also commented on OTLK. BTIG Research reiterated a “buy” rating and set a $50.00 price target on shares of Outlook Therapeutics in a research note on Friday, October 18th. Chardan Capital reiterated a “buy” rating and set a $53.00 target price on shares of Outlook Therapeutics in a research report on Friday, August 16th. Finally, Ascendiant Capital Markets decreased their target price 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. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $42.34.

Outlook Therapeutics Stock Up 20.6 %

Shares of Outlook Therapeutics stock opened at $2.05 on Friday. Outlook Therapeutics has a 52 week low of $0.87 and a 52 week high of $12.85. The firm’s 50 day moving average is $5.29 and its two-hundred day moving average is $6.71. The firm has a market capitalization of $48.50 million, a P/E ratio of -0.19 and a beta of 0.62.

Insider Buying and Selling

In related news, CFO Lawrence A. Kenyon bought 5,000 shares of the stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $5.69 per share, for a total transaction of $28,450.00. Following the purchase, the chief financial officer now owns 5,946 shares of the company’s stock, valued at $33,832.74. This trade represents a 528.54 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Outlook Therapeutics

Hedge funds have recently modified their holdings of the stock. Christensen King & Associates Investment Services Inc. purchased a new position in Outlook Therapeutics during the 3rd quarter worth $55,000. AQR Capital Management LLC purchased a new stake in shares of Outlook Therapeutics in the second quarter valued at about $75,000. Barclays PLC increased its stake in shares of Outlook Therapeutics by 677.4% during the third quarter. Barclays PLC now owns 20,943 shares of the company’s stock worth $111,000 after acquiring an additional 18,249 shares during the period. XTX Topco Ltd purchased a new position in Outlook Therapeutics during the third quarter worth about $199,000. Finally, Squarepoint Ops LLC acquired a new stake in Outlook Therapeutics in the second quarter valued at about $232,000. 11.20% of the stock is owned by institutional investors and hedge funds.

Outlook Therapeutics Company Profile

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.