Outlook Therapeutics (NASDAQ:OTLK) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Outlook Therapeutics (NASDAQ:OTLK) from a strong-buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

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. “

Several other brokerages have also weighed in on OTLK. LADENBURG THALM/SH SH began coverage on shares of Outlook Therapeutics in a report on Wednesday, September 11th. They issued a buy rating and a $9.00 price objective on the stock. HC Wainwright began coverage on shares of Outlook Therapeutics in a report on Thursday, July 18th. They issued a buy rating and a $8.00 price objective on the stock. Finally, ValuEngine upgraded shares of Outlook Therapeutics from a hold rating to a buy rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $7.79.

Shares of OTLK stock opened at $1.70 on Wednesday. Outlook Therapeutics has a 1 year low of $0.85 and a 1 year high of $10.96. The firm’s 50 day moving average is $1.80 and its 200-day moving average is $2.43.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cormorant Asset Management LP acquired a new position in Outlook Therapeutics in the second quarter valued at approximately $32,000. Chicago Capital LLC acquired a new position in Outlook Therapeutics in the second quarter valued at approximately $40,000. Finally, Vanguard Group Inc. raised its holdings in Outlook Therapeutics by 712.1% in 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 during the period. Institutional investors and hedge funds own 2.95% of the company’s stock.

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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