Chardan Capital Reaffirms Neutral Rating for Outlook Therapeutics (NASDAQ:OTLK)

Outlook Therapeutics (NASDAQ:OTLK)‘s stock had its “neutral” rating reissued by equities research analysts at Chardan Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $3.00 price target on the stock. Chardan Capital’s target price suggests a potential upside of 60.43% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. BTIG Research dropped their price target on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Guggenheim reaffirmed a “buy” rating and set a $12.00 price objective on shares of Outlook Therapeutics in a research note on Friday, January 17th. Finally, HC Wainwright cut their target price on shares of Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Outlook Therapeutics Stock Up 1.6 %

Shares of OTLK stock opened at $1.87 on Tuesday. The stock has a market cap of $59.80 million, a P/E ratio of -0.21 and a beta of 0.58. Outlook Therapeutics has a fifty-two week low of $0.87 and a fifty-two week high of $12.85. The business has a fifty day simple moving average of $1.88 and a 200-day simple moving average of $4.41.

Outlook Therapeutics (NASDAQ:OTLK) last announced its quarterly earnings results on Friday, February 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.04). On average, sell-side analysts anticipate that Outlook Therapeutics will post -2.25 earnings per share for the current year.

Hedge Funds Weigh In On Outlook Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in Outlook Therapeutics by 1,329.6% in the 4th quarter. Rhumbline Advisers now owns 188,050 shares of the company’s stock worth $355,000 after buying an additional 174,896 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Outlook Therapeutics during the 4th quarter worth about $246,000. Geode Capital Management LLC boosted its position in shares of Outlook Therapeutics by 49.2% in the third quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock worth $1,826,000 after acquiring an additional 112,812 shares during the last quarter. Scotia Capital Inc. grew its holdings in Outlook Therapeutics by 124.4% in the fourth quarter. Scotia Capital Inc. now owns 73,989 shares of the company’s stock valued at $140,000 after purchasing an additional 41,023 shares during the period. Finally, XTX Topco Ltd acquired a new position in Outlook Therapeutics during the third quarter worth approximately $199,000. 11.20% of the stock is currently 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.