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

Outlook Therapeutics (NASDAQ:OTLK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The firm presently has a $1.75 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 25.90% from the company’s previous close.

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 research firms have also commented on OTLK. ValuEngine raised shares of Outlook Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. HC Wainwright began coverage on shares of Outlook Therapeutics in a report on Thursday, July 18th. They set a “buy” rating and a $8.00 target price for the company. Finally, LADENBURG THALM/SH SH began coverage on shares of Outlook Therapeutics in a report on Wednesday, September 11th. They set a “buy” rating and a $9.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, Outlook Therapeutics has an average rating of “Buy” and a consensus price target of $7.79.

OTLK traded down $0.07 during trading on Thursday, reaching $1.39. 25,628 shares of the company’s stock were exchanged, compared to its average volume of 339,233. The company’s fifty day moving average price is $1.65 and its 200-day moving average price is $2.47. Outlook Therapeutics has a fifty-two week low of $0.85 and a fifty-two week high of $10.96. The firm has a market capitalization of $41.22 million, a PE ratio of -0.13 and a beta of -0.64.

Outlook Therapeutics (NASDAQ:OTLK) last released its earnings results on Wednesday, August 14th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. The business had revenue of $0.58 million for the quarter, compared to analyst estimates of $0.73 million. Equities research analysts forecast that Outlook Therapeutics will post -2.08 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Chicago Capital LLC bought a new position in shares of Outlook Therapeutics during the second quarter worth $40,000. Cormorant Asset Management LP bought a new position in shares of Outlook Therapeutics during the second quarter worth $32,000. Finally, Vanguard Group Inc. boosted its position in shares of Outlook Therapeutics by 712.1% during the second quarter. Vanguard Group Inc. now owns 396,001 shares of the company’s stock worth $824,000 after purchasing an additional 347,238 shares in the last quarter. 2.95% of the stock is currently owned by institutional investors.

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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