Outlook Therapeutics (NASDAQ:OTLK) Given New $21.00 Price Target at Ascendiant Capital Markets

Outlook Therapeutics (NASDAQ:OTLK) had its price objective reduced by research analysts at Ascendiant Capital Markets from $24.00 to $21.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Chardan Capital restated a “neutral” rating and set a $3.00 target price on shares of Outlook Therapeutics in a research report on Tuesday, February 18th. Guggenheim reissued a “buy” rating on shares of Outlook Therapeutics in a research report on Tuesday, May 20th. Finally, HC Wainwright cut their price objective on shares of Outlook Therapeutics from $30.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Outlook Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $9.60.

Outlook Therapeutics Trading Up 1.6%

Shares of OTLK opened at $1.90 on Friday. The stock has a market cap of $63.78 million, a P/E ratio of -0.26 and a beta of 0.39. The company has a 50-day moving average of $1.54 and a two-hundred day moving average of $1.75. Outlook Therapeutics has a 12-month low of $0.87 and a 12-month high of $9.25.

Outlook Therapeutics (NASDAQ:OTLK) last announced its earnings results on Thursday, May 15th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.15. As a group, analysts forecast that Outlook Therapeutics will post -2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Outlook Therapeutics

A number of institutional investors have recently modified their holdings of OTLK. Rhumbline Advisers raised its position in shares of Outlook Therapeutics by 1,329.6% in the fourth quarter. Rhumbline Advisers now owns 188,050 shares of the company’s stock valued at $355,000 after buying an additional 174,896 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Outlook Therapeutics by 44.8% in the fourth quarter. Bank of New York Mellon Corp now owns 29,764 shares of the company’s stock valued at $56,000 after buying an additional 9,211 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Outlook Therapeutics in the fourth quarter valued at approximately $48,000. Russell Investments Group Ltd. raised its position in shares of Outlook Therapeutics by 34,936.7% in the fourth quarter. Russell Investments Group Ltd. now owns 17,168 shares of the company’s stock valued at $32,000 after buying an additional 17,119 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Outlook Therapeutics in the fourth quarter valued at approximately $246,000. Institutional investors and hedge funds own 11.20% of the company’s stock.

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.