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HC Wainwright lowers Outlook Therapeutics (NASDAQ:OTLK) price target to $5.00

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Outlook Therapeutics (NASDAQ: OTLK – Get an Assessment) had its price target reduced by HC Wainwright research analysts from $6.00 to $5.00 in a report on Friday, Benzinga reports. The company currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 385.44% from the company’s current price.

OTLK has been the subject of a number of other research reports. BTIG Research launched coverage on Outlook Therapeutics in a Monday, October 31 report. They set a “buy” rating and a price target of $7.00 for the company. Brookline Capital Management reiterated a “buy” rating on Outlook Therapeutics shares in a Monday, Oct. 3 report. Finally, Chardan Capital kicked off Outlook Therapeutics coverage in a Tuesday, September 13 report. They set a “buy” rating for the company.

Outlook Therapeutics trades down 2.8%

NASDAQ OTLK opened at $1.03 on Friday. The stock has a 50-day moving average of $1.03 and a 200-day moving average of $1.12. Outlook Therapeutics has a 12-month low of $0.68 and a 12-month high of $2.12. The company has a market capitalization of $235.06 million, a PE ratio of -3.12 and a beta of 0.63.

Institutional investors weigh in on Outlook Therapeutics

A number of hedge funds and other institutional investors have recently changed their positions in the company. BlackRock Inc. raised its position in Outlook Therapeutics shares by 12.9% in the first quarter. BlackRock Inc. now owns 6,680,116 shares of the company valued at $11,891,000 after purchasing an additional 761,356 shares last quarter. State Street Corp increased its stake in Outlook Therapeutics by 3.2% in the third quarter. State Street Corp now owns 1,949,069 shares of the company valued at $2,378,000 after acquiring an additional 59,730 shares in the last quarter. Vista Finance LLC increased its stake in Outlook Therapeutics by 3.7% in the second quarter. Vista Finance LLC now owns 1,020,370 shares of the company valued at $1,041,000 after acquiring 36,725 additional shares in the last quarter. Northern Trust Corp increased its stake in Outlook Therapeutics by 20.1% in the first quarter. Northern Trust Corp now owns 981,485 shares of the company valued at $1,747,000 after acquiring an additional 163,940 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Outlook Therapeutics by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 357,907 shares of the company valued at $437,000 after acquiring 25,958 additional shares in the last quarter. 10.61% of the shares are currently held by institutional investors and hedge funds.

About Outlook Therapeutics

(Get a rating)

Perspectives Therapeutics, Inc., a late-stage clinical-stage biopharmaceutical company, is focused on the development and commercialization of monoclonal antibodies for various ophthalmic indications. Its lead product candidate is ONS-5010, an ophthalmic formulation of the product candidate bevacizumab that is in a Phase III clinical trial for the treatment of wet age-related macular degeneration and other retinal diseases.

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