Outlook Therapeutics' Price Target Adjusted by BTIG Research

Outlook Therapeutics (NASDAQ:OTLK) has recently experienced a significant adjustment in its price target, according to a report from BTIG Research. The firm has cut its price objective from $50.00 to $9.00 in a new report issued to its clients and investors. Despite this reduction, BTIG Research continues to hold a "buy" rating on the stock, which implies a potential upside of approximately 339.02% based on the stock's last closing price.

In addition to BTIG, other analysts have also provided their insights on Outlook Therapeutics. Chardan Capital reaffirmed a "buy" rating and established a price target of $53.00 on August 16th. Meanwhile, Ascendiant Capital Markets lowered their price target from $35.00 to $33.00 and maintained a "buy" rating. HC Wainwright also reiterated a "buy" rating with a price objective of $30.00. Overall, seven analysts have rated the stock with a buy recommendation, leading to a consensus price target of $42.34 according to data from MarketBeat.

Recent Performance of Outlook Therapeutics

On Friday, NASDAQ:OTLK began trading at $2.05. The company's fifty-day moving average stands at $5.29, while the two-hundred-day moving average is $6.71. Outlook Therapeutics reached a one-year low of $0.87 and a one-year high of $12.85. The firm’s market capitalization is approximately $48.50 million. Its price-to-earnings (P/E) ratio is -0.19, and it has a beta value of 0.62, indicating lower volatility compared to the market.

Insider Transactions

In recent insider activity, CFO Lawrence A. Kenyon made a notable purchase, acquiring 5,000 shares of the company's stock on September 26th at an average price of $5.69 per share, totaling $28,450. Following this transaction, Kenyon holds 5,946 shares, which now have a value of approximately $33,832.74. This purchase reflects a substantial 528.54% increase in his ownership stake. Corporate insiders currently hold about 3.40% of the company’s total stock.

Institutional Investment Changes

Several institutional investors have recently adjusted their positions in Outlook Therapeutics. For instance, Barclays PLC increased its stake by an impressive 677.4% during the third quarter, now owning 20,943 shares worth $111,000. Geode Capital Management LLC grew its holdings by 49.2%, owning 341,959 shares valued at $1,826,000. Other investors like XTX Topco Ltd, State Street Corp, and Charles Schwab Investment Management Inc. have either initiated or expanded their investments in the company during this period. Institutional and hedge fund investors combined now control around 11.20% of Outlook Therapeutics' stock.

Overview of Outlook Therapeutics

Outlook Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing and marketing monoclonal antibodies for various ophthalmic conditions. Its primary product candidate is ONS-5010, an ophthalmic formulation of bevacizumab currently undergoing Phase-III clinical trials aimed at treating wet age-related macular degeneration and other retinal diseases.

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