Outlook Therapeutics (NASDAQ:OTLK) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Outlook Therapeutics (NASDAQ:OTLK) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

A number of other equities analysts also recently weighed in on the company. LADENBURG THALM/SH SH initiated coverage on Outlook Therapeutics in a report on Wednesday, September 11th. They issued a buy rating and a $9.00 target price on the stock. ValuEngine upgraded Outlook Therapeutics from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, HC Wainwright initiated coverage on Outlook Therapeutics in a report on Thursday, July 18th. They issued a buy rating and a $8.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $7.79.

Shares of OTLK opened at $1.69 on Wednesday. Outlook Therapeutics has a fifty-two week low of $0.85 and a fifty-two week high of $10.96. The business’s 50-day moving average is $1.80 and its 200-day moving average is $2.43.

Outlook Therapeutics (NASDAQ:OTLK) last issued its earnings results on Wednesday, August 14th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. The business had revenue of $0.58 million during the quarter, compared to analyst estimates of $0.73 million. On average, sell-side analysts expect that Outlook Therapeutics will post -2.08 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Cormorant Asset Management LP acquired a new position in Outlook Therapeutics in the second quarter worth approximately $32,000. Chicago Capital LLC acquired a new position in Outlook Therapeutics in the second quarter worth approximately $40,000. Finally, Vanguard Group Inc. increased its holdings in Outlook Therapeutics by 712.1% in the second quarter. Vanguard Group Inc. now owns 396,001 shares of the company’s stock worth $824,000 after buying an additional 347,238 shares during the last quarter. Hedge funds and other institutional investors own 2.95% of the company’s stock.

About Outlook Therapeutics

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.

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