Leerink Partnrs Downgrades Opthea (NASDAQ:OPT) to Hold

Leerink Partnrs cut shares of Opthea (NASDAQ:OPT - Free Report) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports. Leerink Partnrs also issued estimates for Opthea's FY2025 earnings at ($1.62) EPS, FY2026 earnings at ($0.36) EPS, FY2027 earnings at ($0.41) EPS and FY2028 earnings at ($0.37) EPS.

A number of other equities analysts also recently issued reports on the company. Leerink Partners downgraded Opthea from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $12.00 to $1.00 in a research report on Tuesday, March 25th. Canaccord Genuity Group raised shares of Opthea to a "strong-buy" rating in a research note on Tuesday, December 17th. HC Wainwright lowered shares of Opthea from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $12.00 to $2.00 in a report on Tuesday, March 25th. Oppenheimer downgraded Opthea from an "outperform" rating to a "market perform" rating in a research note on Monday, March 24th. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a $1.00 price target (down previously from $8.00) on shares of Opthea in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $1.33.

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Opthea Price Performance

Shares of NASDAQ:OPT remained flat at $3.41 during trading on Monday. Opthea has a 1-year low of $1.79 and a 1-year high of $6.30. The firm's 50-day simple moving average is $4.40 and its 200 day simple moving average is $4.07.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new stake in Opthea in the 4th quarter valued at $556,000. Jane Street Group LLC bought a new stake in shares of Opthea in the 3rd quarter worth $114,000. Citadel Advisors LLC purchased a new stake in shares of Opthea in the fourth quarter valued at about $79,000. Twin Lakes Capital Management LLC bought a new position in shares of Opthea during the third quarter valued at about $81,000. Finally, OLD Mission Capital LLC purchased a new position in Opthea during the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 55.95% of the company's stock.

Opthea Company Profile

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.