Guggenheim Reiterates Buy Rating for Outlook Therapeutics (NASDAQ:OTLK)

Outlook Therapeutics (NASDAQ:OTLK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Guggenheim in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $12.00 target price on the stock. Guggenheim’s price target indicates a potential upside of 438.12% from the stock’s current price.

A number of other analysts have also issued reports on OTLK. BTIG Research reduced their target price on Outlook Therapeutics from $50.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 29th. Chardan Capital reissued a “neutral” rating on shares of Outlook Therapeutics in a research report on Monday, December 2nd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Outlook Therapeutics in a report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.07.

Outlook Therapeutics Stock Performance

NASDAQ OTLK opened at $2.23 on Friday. Outlook Therapeutics has a 1 year low of $0.87 and a 1 year high of $12.85. The business’s fifty day moving average is $2.70 and its two-hundred day moving average is $5.34. The stock has a market capitalization of $55.55 million, a P/E ratio of -0.25 and a beta of 0.53.

Outlook Therapeutics (NASDAQ:OTLK) last issued its earnings results on Friday, December 27th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.06. On average, research analysts forecast that Outlook Therapeutics will post -2.33 earnings per share for the current year.

Institutional Investors Weigh In On Outlook Therapeutics

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Outlook Therapeutics by 55.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 51,459 shares of the company’s stock valued at $275,000 after acquiring an additional 18,287 shares in the last quarter. State Street Corp increased its holdings in shares of Outlook Therapeutics by 10.0% during the 3rd quarter. State Street Corp now owns 232,542 shares of the company’s stock valued at $1,242,000 after acquiring an additional 21,201 shares during the last quarter. Great Point Partners LLC raised its stake in shares of Outlook Therapeutics by 15.0% in the 2nd quarter. Great Point Partners LLC now owns 1,701,510 shares of the company’s stock valued at $12,557,000 after acquiring an additional 221,510 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Outlook Therapeutics by 49.2% in the 3rd quarter. Geode Capital Management LLC now owns 341,959 shares of the company’s stock worth $1,826,000 after purchasing an additional 112,812 shares during the last quarter. Finally, Barclays PLC boosted its position in 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 purchasing an additional 18,249 shares during the period. Institutional investors own 11.20% of the company’s stock.

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.