Outlook Therapeutics (OTLK) Stock Flies On Analyst News

Outlook Therapeutics OTLK Stock News

Outlook Therapeutics Inc (NASDAQ: OTLK) is climbing in the market this morning, and for good reason. Analysts at H.C. Wainwright initiated coverage on the stock with a bullish opinion. As a result, OTLK is seeing early morning gains of more than 28%. Here’s what’s going on:

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

H.C. Wainwright Sees 310% Upside In OTLK Stock

Outlook Therapeutics found its way for the top early on this morning after analysts at H.C. Wainwright initiated coverage on the stock. In the initiation, the analfyst firm raded the stock a buy and gave it a price target of $8. That’s a big deal, suggesting a more than 300% upside.

This is great news for OTLK as investors, both retail and institutional, tend to pay close attention to what analysts think. After all, these analysts spend their entire career researching and making market predictions. So, following analysts gives investors a view of various opportunities in the market.

The Initiation Comes On The Heels Of Study News

Just days ago, Outlook Therapeutics announced news with regard to a study in wet age macular degeneration, also known as wet AMD. In the release, the company said that it has dosed its first patient in the study. The clinical trial is a Phase 3 study of ONS-5010 in patients with Wet AMD.

In a statement, Lawrence A. Kenyon, President, CEO and CFO at OTLK, had the following to offer:

We are pleased to begin dosing patients in the ONS-5010-002 study, our second Phase 3 clinical trial for ONS-5010. This represents the achievement of another important milestone in our streamlined clinical and regulatory strategy, which is designed to support a Biologics License Application, or BLA, submission for ONS-5010 in wet AMD by the end of 2020.

A Regulatory Submission May Be Around The Corner

The news of the first dosed patient was important for Outlook Therapeutics. The study, dubbed ONS-5010-002, is the second of two required adequate and well controlled Phase 3 clinical trials evaluating the drug in the wet AMD indication.

If all goes well, the company will be positioned to prepare and submit a New Drug Application with the FDA upon the completion of the study. In a statement, Mark Humayun, M.D., Ph.D., Medical Advisor to OTLK, had the following to offer:

The ophthalmic community is well aware of the benefits of bevacizumab in the treatment of wet AMD. ONS-5010 is an exciting product because, if approved, it has the potential to meet the needs of wet AMD patients by offering an FDA approved bevacizumab and, by doing so, potentially overcoming some of the limitations that are encountered with using compounded bevacizumab.

The Market Potential Is Impressive

If approved, ONS-5010 could prove to be a tremendous market opportunity for OTLK. The wet AMD market is a massive and growing one. In fact, experts expect that the market will grow to be worth $10.4 billion annually by the year 2024.

Outlook Therapeutics has a market cap of just under $60 million. Considering the small market cap relative to the market size, access to a very small percentage of this market would be a meaningful opportunity for value growth in OTLK.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Never Miss The News Again!

Join our FREE mailing list below for actionable alerts!

Subscribe Today!

* indicates required

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.