Investing

Cantor Fitzgerald Downgrades Outlook Therapeutics

George Maybach

Published: August 30, 2023 11:55 pm

Last Updated: August 31, 2023 10:51 am

Fintel reports that on August 30, 2023, Cantor Fitzgerald downgraded their outlook for Outlook Therapeutics (NASDAQ:OTLK) from Overweight to Neutral.

Analyst Price Forecast Suggests 2,369.27% Upside

As of August 2, 2023, the average one-year price target for Outlook Therapeutics is 6.63. The forecasts range from a low of 4.54 to a high of $10.50. The average price target represents an increase of 2,369.27% from its latest reported closing price of 0.27.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Outlook Therapeutics is 4MM, a decrease of 30.30%. The projected annual non-GAAP EPS is -0.27.

What is the Fund Sentiment?

There are 165 funds or institutions reporting positions in Outlook Therapeutics. This is an increase of 5 owner(s) or 3.12% in the last quarter. Average portfolio weight of all funds dedicated to OTLK is 0.01%, an increase of 26.29%. Total shares owned by institutions increased in the last three months by 7.21% to 31,135K shares.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,610K shares representing 1.39% ownership of the company. No change in the last quarter.

IWM – iShares Russell 2000 ETF holds 3,429K shares representing 1.32% ownership of the company. In it’s prior filing, the firm reported owning 2,925K shares, representing an increase of 14.70%. The firm increased its portfolio allocation in OTLK by 72.51% over the last quarter.

Geode Capital Management holds 2,721K shares representing 1.05% ownership of the company. In it’s prior filing, the firm reported owning 2,538K shares, representing an increase of 6.73%. The firm increased its portfolio allocation in OTLK by 54.88% over the last quarter.

LVW Advisors holds 1,734K shares representing 0.67% ownership of the company. No change in the last quarter.

VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 1,449K shares representing 0.56% ownership of the company. In it’s prior filing, the firm reported owning 1,324K shares, representing an increase of 8.63%. The firm increased its portfolio allocation in OTLK by 66.66% over the last quarter.

Outlook Therapeutics Background Information
(This description is provided by the company.)

Outlook Therapeutics is a late clinical-stage biopharmaceutical company working to develop ONS-5010/LYTENAVA™ (bevacizumab-vikg) as the first FDA-approved ophthalmic formulation of bevacizumab-vikg for use in retinal indications, including wet AMD, DME and BRVO. If ONS-5010 is approved, Outlook Therapeutics expects to commercialize it as the first and only FDA-approved ophthalmic formulation of bevacizumab-vikg for use in treating a range of retinal diseases in the United States, United Kingdom, Europe, Japan, China and other markets. Outlook Therapeutics expects to file ONS-5010 with the U.S. FDA as a new BLA under the PHSA 351(a) regulatory pathway, initially for wet AMD.

This article originally appeared on Fintel