BTIG lowered the firm’s price target on Outlook Therapeutics (OTLK) to $9 from $50 and keeps a Buy rating on the shares. The firm says ONS-5010 did not surpass the 95% threshold for the primary endpoint in NORSE EIGHT despite the difference between ONS-5010 and ranibizumab falling within the pre-specified noninferiority margin at eight weeks. Despite NORSE EIGHT technically not meeting its primary endpoint, BTIG remains Buy rated. Outlook is now trading at a zero enterprise value, there is still a chance ONS-5010 could be approved, and the company is likely not getting any credit for ONS-5010’s potential in Europe, where ONS-5010 is already approved and launch is expected to commence in 2025, the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on OTLK:
- 3 Penny Stocks to Watch Now, 11/29/24
- Outlook Therapeutics reports preliminary results from Norse Eight trials
- Outlook could disrupt ocular anti-VEGF injection market, says BTIG
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
