Outlook Therapeutics: HC Wainwright Raises PT to $1, Reiterates Neutral Rating

Outlook Therapeutics: HC Wainwright Raises PT to $1, Reiterates Neutral Rating

In a recent development, HC Wainwright has raised its price target for Outlook Therapeutics Inc. (NASDAQ: OTLK) to $1.00, maintaining its Neutral rating on the stock. This adjustment comes amidst significant regulatory and leadership changes within the company.

Outlook Therapeutics, currently trading at $1.06 with a market capitalization of $47 million, has seen its analyst targets vary widely, ranging from $1 to $8 Outlook Therapeutics stock price target raised to $13 from $8 at Brookline Capital^[1]. The firm cited the positive outcome of Outlook’s Type A meeting with the FDA as a significant development, which now enables the company to re-file its Biologics License Application (BLA) for LYTENAVA by the end of the calendar year.

Brookline Capital Markets, in a separate report, raised its price target for Outlook Therapeutics to $13.00 from $8.00 while maintaining a Buy rating on the stock. This increase reflects increased confidence in the company's regulatory pathway and commercial prospects Outlook Therapeutics stock price target raised to $13 from $8 at Brookline Capital^[1].

However, HC Wainwright's decision to raise the price target to $1.00 and maintain a Neutral rating indicates a more cautious outlook. The firm cited the failure of the NORSE 8 study to meet its primary endpoint and the FDA's rejection of the BLA for ONS-5010 due to a lack of substantial evidence of effectiveness Outlook Therapeutics stock price target raised to $13 from $8 at Brookline Capital^[1]. Additionally, the appointment of Bob Jahr as the new CEO, bringing over 20 years of biopharmaceutical industry experience, is part of the company’s ongoing efforts to navigate regulatory challenges and strengthen its leadership team.

These developments highlight the ongoing challenges Outlook Therapeutics faces in securing regulatory approval and commercial success. Investors should closely monitor the company’s progress as it navigates these regulatory hurdles and awaits further updates from the FDA.