Outlook Therapeutics Inc. (NASDAQ:OTLK) shares traded -2.74% lower at $0.21 on Wall Street last session.
In accordance with the data, 8 analysts cover Outlook Therapeutics Inc. (NASDAQ:OTLK). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $1.00, we find $1.25. Given the previous closing price of $0.22, this indicates a potential upside of 468.18 percent. OTLK stock price is now -81.93% away from the 50-day moving average and -82.66% away from the 200-day moving average. The market capitalization of the company currently stands at $57.69M.
It has been rated a hold by 7 analysts and a buy by 1. Brokers who have rated the stock have averaged $3.75 as their price target over the next twelve months.
With the price target reduced from $5 to $1, H.C. Wainwright Downgraded its rating from Buy to Neutral for Outlook Therapeutics Inc. (NASDAQ: OTLK).
In other news, Dagnon Terry, Chief Operations Officer sold 520,000 shares of the company’s stock on Apr 20. The stock was sold for $590,200 at an average price of $1.14. Upon completion of the transaction, the Chief Operations Officer now directly owns 653,058 shares in the company, valued at $0.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 20, Chief Commercial Officer Evanson Jeff sold 267,000 shares of the business’s stock. A total of $296,370 was realized by selling the stock at an average price of $1.11. This leaves the insider owning 745,975 shares of the company worth $0.16 million. Insiders disposed of 951,155 shares of company stock worth roughly $0.2 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OTLK stock. A new stake in Outlook Therapeutics Inc. shares was purchased by MANUFACTURERS LIFE INSURANCE COMPANY, THE during the first quarter worth $14,000. SCOTIA CAPITAL INC. invested $14,000 in shares of OTLK during the first quarter. In the first quarter, VERITION FUND MANAGEMENT LLC acquired a new stake in Outlook Therapeutics Inc. valued at approximately $11,000. CITIGROUP INC acquired a new stake in OTLK for approximately $10,000. STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM purchased a new stake in OTLK valued at around $9,000 in the second quarter.
Outlook Therapeutics Inc. (NASDAQ: OTLK) opened at $0.2152 on Thursday. During the past 12 months, Outlook Therapeutics Inc. has had a low of $0.20 and a high of $2.03. The fifty day moving average price for OTLK is $1.1288 and a two-hundred day moving average price translates $1.2038 for the stock.
The latest earnings results from Outlook Therapeutics Inc. (NASDAQ: OTLK) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.08, missing analysts’ expectations of -$0.05 by -0.03. This compares to -$0.08 EPS in the same period last year. The company reported revenue of $18.14 million for the quarter, compared to $17.02 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.56 percent. For the current quarter, analysts expect OTLK to generate $2.18M in revenue.
Outlook Therapeutics Inc.(OTLK) Company Profile
Outlook Therapeutics, Inc., a late 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. Outlook Therapeutics, Inc. has collaboration and license agreements with IPCA Laboratories Limited; Laboratorios Liomont, S.A. de C.V.; BioLexis Pte. Ltd.; and Zhejiang Huahai Pharmaceutical Co., Ltd. The company was formerly known as Oncobiologics, Inc. and changed its name to Outlook Therapeutics, Inc. in November 2018. Outlook Therapeutics, Inc. was incorporated in 2010 and is based in Iselin, New Jersey.
