Outlook Therapeutics (NASDAQ:OTLK) Raised to “Buy” at BTIG Research

BTIG Research upgraded shares of Outlook Therapeutics (NASDAQ:OTLK) from a neutral rating to a buy rating in a research report released on Wednesday, MarketBeat Ratings reports. BTIG Research currently has $50.00 price target on the stock.

Several other equities research analysts have also issued reports on OTLK. HC Wainwright lifted their target price on shares of Outlook Therapeutics to $30.00 and gave the company a buy rating in a research report on Monday, March 25th. Capital One Financial reiterated an overweight rating on shares of Outlook Therapeutics in a research report on Friday, February 16th. 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 report on Thursday, January 25th. Brookline Capital Management upgraded shares of Outlook Therapeutics from a hold rating to a buy rating and set a $31.40 target price for the company in a research report on Thursday, January 25th. Finally, Ascendiant Capital Markets lifted their target price on shares of Outlook Therapeutics from $30.00 to $40.00 and gave the company a buy rating in a research report on Friday, December 29th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Outlook Therapeutics currently has a consensus rating of Moderate Buy and an average target price of $46.43.

Outlook Therapeutics Trading Up 27.4 %

OTLK stock opened at $11.94 on Wednesday. The firm has a 50 day moving average of $8.31 and a 200-day moving average of $7.92. Outlook Therapeutics has a 12 month low of $4.00 and a 12 month high of $40.60. The firm has a market capitalization of $155.34 million and a P/E ratio of -2.99.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.20. Sell-side analysts predict that Outlook Therapeutics will post -2.99 EPS for the current year.

Institutional Investors Weigh In On Outlook Therapeutics

A number of hedge funds have recently made changes to their positions in OTLK. JPMorgan Chase & Co. lifted its holdings in shares of Outlook Therapeutics by 55.1% in the 1st quarter. JPMorgan Chase & Co. now owns 53,465 shares of the company’s stock worth $95,000 after acquiring an additional 18,989 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Outlook Therapeutics by 14.3% in the 1st quarter. Bank of New York Mellon Corp now owns 332,411 shares of the company’s stock worth $592,000 after acquiring an additional 41,606 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Outlook Therapeutics by 93.3% in the 1st quarter. Rhumbline Advisers now owns 92,634 shares of the company’s stock worth $165,000 after acquiring an additional 44,704 shares during the last quarter. BlackRock Inc. increased its stake in shares of Outlook Therapeutics by 12.9% in the first quarter. BlackRock Inc. now owns 6,680,116 shares of the company’s stock worth $11,891,000 after buying an additional 761,356 shares during the period. Finally, American International Group Inc. increased its stake in shares of Outlook Therapeutics by 19.5% in the first quarter. American International Group Inc. now owns 56,554 shares of the company’s stock worth $101,000 after buying an additional 9,225 shares during the period. 11.20% of the stock is currently owned by institutional investors.

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.