Outlook Therapeutics Inc [NASDAQ: OTLK] price plunged by -10.57 percent to reach at -$0.04. The company report on March 12, 2024 at 8:05 AM that Outlook Therapeutics® Announces Effective Date for 1-for-20 Reverse Stock Split.
The Company’s common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on March 14, 2024. Following the reverse stock split, the Company’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “OTLK” with the new CUSIP number 69012T 305. The reverse stock split is part of the Company’s plan to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.
The one-year OTLK stock forecast points to a potential upside of 84.23. The average equity rating for OTLK stock is currently 1.43, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Outlook Therapeutics Inc [OTLK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OTLK shares is $2.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OTLK stock is a recommendation set at 1.43. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Chardan Capital Markets have made an estimate for Outlook Therapeutics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 15, 2024. The new note on the price target was released on January 25, 2024, representing the official price target for Outlook Therapeutics Inc stock. Previously, the target price had yet another raise to $5, while CapitalOne analysts kept a Overweight rating on OTLK stock. On August 31, 2023, analysts decreased their price target for OTLK shares from 5 to 1.
OTLK Stock Performance Analysis:
Outlook Therapeutics Inc [OTLK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.67. With this latest performance, OTLK shares dropped by -15.58% in over the last four-week period, additionally plugging by 65.30% over the last 6 months – not to mention a drop of -65.39% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OTLK stock in for the last two-week period is set at 37.54, with the RSI for the last a single of trading hit 30.03, and the three-weeks RSI is set at 41.56 for Outlook Therapeutics Inc [OTLK]. The present Moving Average for the last 50 days of trading for this stock 0.4045, while it was recorded at 0.3904 for the last single week of trading, and 0.7896 for the last 200 days.
Insight into Outlook Therapeutics Inc Fundamentals:
Outlook Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.44 and a Current Ratio set at 0.44.
OTLK Stock EPS
With the latest financial reports released by the company, Outlook Therapeutics Inc posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OTLK.
Outlook Therapeutics Inc [OTLK] Institutonal Ownership Details
The top three institutional holders of OTLK stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OTLK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OTLK stock with ownership which is approximately 5.8325%.
