Opthea Limited (NASDAQ:OPT) Receives Average Rating of "Hold" from Analysts

Shares of Opthea Limited (NASDAQ:OPT - Get Free Report) have earned a consensus recommendation of "Hold" from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $1.33.

OPT has been the subject of several recent research reports. Oppenheimer downgraded shares of Opthea from an "outperform" rating to a "market perform" rating in a research report on Monday, March 24th. Jefferies Financial Group reissued an "underperform" rating and set a $1.00 target price (down from $8.00) on shares of Opthea in a research report on Tuesday, March 25th. Leerink Partners cut Opthea from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $12.00 to $1.00 in a research report on Tuesday, March 25th. Leerink Partnrs downgraded Opthea from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, HC Wainwright lowered Opthea from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $12.00 to $2.00 in a report on Tuesday, March 25th.

Opthea Stock Performance

Shares of NASDAQ:OPT remained flat at $3.41 during mid-day trading on Wednesday. Opthea has a 12 month low of $1.79 and a 12 month high of $6.30. The business's 50 day moving average price is $4.40 and its 200-day moving average price is $4.07.

Remove Ads

Institutional Investors Weigh In On Opthea

Hedge funds have recently modified their holdings of the business. ABC Arbitrage SA bought a new stake in Opthea in the 4th quarter valued at $40,000. OLD Mission Capital LLC bought a new stake in shares of Opthea in the fourth quarter valued at about $42,000. Citadel Advisors LLC acquired a new stake in Opthea during the fourth quarter worth about $79,000. Twin Lakes Capital Management LLC bought a new position in Opthea during the third quarter valued at about $81,000. Finally, Jane Street Group LLC bought a new position in Opthea during the third quarter valued at about $114,000. 55.95% of the stock is owned by institutional investors.

About Opthea

Opthea Limited, a clinical stage biopharmaceutical company, engages in the development and commercialization of therapies primarily for eye disease in Australia. The company's development activities are based on the intellectual property portfolio covering Vascular Endothelial Growth Factors (VEGF) VEGF-C, VEGF-D, and VEGF Receptor-3 for the treatment of diseases associated with blood and lymphatic vessel growth, as well as vascular leakage.