Outlook Therapeutics Price Target Adjusted by BTIG Research

On December 1, 2024, analysts at BTIG Research announced a significant reduction in the price target for Outlook Therapeutics (NASDAQ:OTLK), lowering it from $50.00 to $9.00 in a recent report shared with clients and investors. Despite this drop, the brokerage still maintains a "buy" rating on the stock. The revised price target indicates a potential upside of approximately 339.02% based on the stock's closing price prior to this announcement.

Other market analysts have also recently provided their insights regarding Outlook Therapeutics. For instance, Chardan Capital reiterated its "buy" rating and set a price target of $53.00 for the shares on August 16. Similarly, Ascendiant Capital Markets lowered its price target from $35.00 to $33.00 while still endorsing a "buy" rating on September 3. Additionally, HC Wainwright reaffirmed a "buy" rating but set a more conservative price target of $30.00. Overall, there are seven analysts who have designated a "buy" rating for the stock. Current consensus data from MarketBeat shows the average rating for Outlook Therapeutics is "Buy" with a consensus price target of $42.34.

Outlook Therapeutics Recent Stock Activity

The shares of Outlook Therapeutics opened at $2.05 on Friday. The company's 50-day moving average stands at $5.29, while the 200-day moving average is at $6.71. Over the past year, the stock has experienced a low of $0.87 and a high of $12.85. The market capitalization for Outlook Therapeutics is approximately $48.50 million, with a price-to-earnings (P/E) ratio of -0.19 and a beta of 0.62.

Insider Purchases

In other news related to company insiders, CFO Lawrence A. Kenyon acquired 5,000 shares of Outlook Therapeutics on September 26. The shares were purchased at an average price of $5.69, resulting in a total transaction value of $28,450. Following this purchase, Kenyon holds 5,946 shares, which are valued at about $33,832.74. This transaction marks a significant 528.54% increase in his position within the company. Details of this purchase were filed with the Securities and Exchange Commission, and corporate insiders currently own 3.40% of the company's stock.

Institutional Investment Trends

Recent activity from institutional investors reveals a mixed trend in trading Outlook Therapeutics shares. Barclays PLC notably increased its stake by 677.4% during the third quarter, amassing 20,943 shares now valued at $111,000 after acquiring an additional 18,249 shares. Another firm, Geode Capital Management LLC, grew its holdings by 49.2%, acquiring a total of 341,959 shares with a value of $1,826,000. Additional institutional movements include XTX Topco acquiring shares worth around $199,000 in the same quarter, while State Street Corp expanded its stake by 10%, amassing 232,542 shares valued at $1,242,000. Lastly, Charles Schwab Investment Management Inc. increased its position by 55.1% to hold 51,459 shares valued at $275,000. In total, institutional investors and hedge funds own 11.20% of Outlook Therapeutics.Outlook, Price, Target