Outlook Therapeutics (NASDAQ:OTLK) Given New $30.00 Price Target at HC Wainwright

Outlook Therapeutics (NASDAQ:OTLK) had its price objective hoisted by equities researchers at HC Wainwright to $30.00 in a research report issued on Monday, March 25th, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 151.26% from the company’s previous close. HC Wainwright also issued estimates for Outlook Therapeutics’ Q2 2024 earnings at ($0.95) EPS, Q3 2024 earnings at ($1.09) EPS, Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($3.42) EPS, FY2025 earnings at ($0.85) EPS, FY2026 earnings at $1.33 EPS, FY2027 earnings at $3.57 EPS and FY2028 earnings at $5.22 EPS.

A number of other research firms also recently issued reports on OTLK. Ascendiant Capital Markets lifted their price objective on shares of Outlook Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, December 29th. Brookline Capital Management raised shares of Outlook Therapeutics from a “hold” rating to a “buy” rating and set a $31.40 price objective on the stock in a report on Thursday, January 25th. Chardan Capital raised shares of Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Thursday, February 15th. Guggenheim raised shares of Outlook Therapeutics from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, January 25th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Outlook Therapeutics in a report on Friday, February 16th. One equities research 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 an average rating of “Moderate Buy” and an average price target of $46.43.

Outlook Therapeutics Price Performance

NASDAQ OTLK opened at $11.94 on Monday. The company has a fifty day simple moving average of $8.31 and a 200 day simple moving average of $7.97. Outlook Therapeutics has a 12-month low of $4.00 and a 12-month high of $40.60.

Outlook Therapeutics (NASDAQ:OTLK) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.20. On average, equities analysts expect that Outlook Therapeutics will post -2.99 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Scotia Capital Inc. grew its holdings in Outlook Therapeutics by 420.9% during the 3rd quarter. Scotia Capital Inc. now owns 338,439 shares of the company’s stock valued at $75,000 after buying an additional 273,463 shares in the last quarter. Gables Capital Management Inc. grew its holdings in Outlook Therapeutics by 132.3% during the 3rd quarter. Gables Capital Management Inc. now owns 154,500 shares of the company’s stock valued at $34,000 after buying an additional 88,000 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Outlook Therapeutics by 31.8% during the fourth quarter. Alliancebernstein L.P. now owns 43,900 shares of the company’s stock worth $47,000 after purchasing an additional 10,600 shares in the last quarter. Virtu Financial LLC purchased a new stake in Outlook Therapeutics in the fourth quarter worth approximately $40,000. Finally, Citadel Advisors LLC boosted its stake in Outlook Therapeutics by 210.4% in the third quarter. Citadel Advisors LLC now owns 32,801 shares of the company’s stock worth $40,000 after buying an additional 22,232 shares in the last quarter. Hedge funds and other 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.