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

Zacks Investment Research upgraded shares of Outlook Therapeutics (NASDAQ:OTLK) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. The brokerage currently has $1.75 target price on the stock.

According to Zacks, “Outlook Therapeutics Inc. is a clinical-stage biopharmaceutical company. It focuses on developing ONS-5010 which is a proprietary ophthalmic bevacizumab product candidate for the treatment of wet age related macular degeneration which is in clinical stage. Outlook Therapeutics Inc., formerly known as Oncobiologics Inc., is based in Cranbury, United States. “

OTLK has been the topic of several other reports. HC Wainwright started coverage on shares of Outlook Therapeutics in a report on Thursday, July 18th. They issued a buy rating and a $8.00 target price on the stock. CIBC started coverage on shares of Outlook Therapeutics in a report on Thursday, May 16th. They issued an outperform rating and a $12.00 target price on the stock. ValuEngine upgraded shares of Outlook Therapeutics from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, Oppenheimer started coverage on shares of Outlook Therapeutics in a report on Thursday, May 16th. They issued an outperform rating and a $12.00 target price on the stock. Seven analysts have rated the stock with a buy rating, Outlook Therapeutics currently has a consensus rating of Buy and an average price target of $7.79.

Shares of OTLK traded up $0.01 during mid-day trading on Tuesday, hitting $1.76. 83,468 shares of the company traded hands, compared to its average volume of 371,797. Outlook Therapeutics has a one year low of $0.85 and a one year high of $10.96. The business has a 50-day moving average of $1.89 and a 200 day moving average of $2.41. The stock has a market capitalization of $49.71 million, a price-to-earnings ratio of -0.16 and a beta of -0.64.

Outlook Therapeutics (NASDAQ:OTLK) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.24) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.13. The company had revenue of $0.58 million for the quarter, compared to the consensus estimate of $0.73 million. As a group, analysts anticipate that Outlook Therapeutics will post -2.08 EPS for the current year.

Several large investors have recently modified their holdings of the stock. Cormorant Asset Management LP acquired a new stake in shares of Outlook Therapeutics during the second quarter worth $32,000. Chicago Capital LLC bought a new position in Outlook Therapeutics in the second quarter valued at $40,000. Finally, Vanguard Group Inc. grew its position in Outlook Therapeutics by 712.1% in the second quarter. Vanguard Group Inc. now owns 396,001 shares of the company’s stock valued at $824,000 after purchasing an additional 347,238 shares in the last quarter. Institutional investors and hedge funds own 2.95% of the company’s stock.

Outlook Therapeutics Company Profile

Outlook Therapeutics, Inc, a late clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibody for various ophthalmic indications. Its lead product candidate is ONS-5010, a proprietary ophthalmic bevacizumab product candidate that is in first clinical trial for the treatment of wet age related macular degeneration and other retina diseases.

Recommended Story: Outperform Rating

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