Opthea (NASDAQ:OPT - Get Free Report) was downgraded by stock analysts at HC Wainwright from a "buy" rating to a "neutral" rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $2.00 target price on the stock, down from their prior target price of $12.00. HC Wainwright's price objective points to a potential downside of 41.35% from the company's current price. HC Wainwright also issued estimates for Opthea's FY2025 earnings at ($1.44) EPS, FY2026 earnings at ($0.96) EPS, FY2027 earnings at ($0.56) EPS, FY2028 earnings at ($0.24) EPS and FY2029 earnings at $0.24 EPS.
A number of other equities analysts also recently issued reports on OPT. Canaccord Genuity Group raised Opthea to a "strong-buy" rating in a research note on Tuesday, December 17th. Jefferies Financial Group reiterated an "underperform" rating and issued a $1.00 price objective (down previously from $8.00) on shares of Opthea in a research report on Tuesday. Leerink Partners lowered shares of Opthea from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $12.00 to $1.00 in a research report on Tuesday. Finally, Oppenheimer cut shares of Opthea from an "outperform" rating to a "market perform" rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Opthea presently has an average rating of "Hold" and an average price target of $1.33.
View Our Latest Report on OPT
Opthea Price Performance
NASDAQ OPT remained flat at $3.41 during trading hours on Tuesday. Opthea has a 1 year low of $1.79 and a 1 year high of $6.30. The company has a 50 day moving average price of $4.40 and a 200-day moving average price of $4.07.
Hedge Funds Weigh In On Opthea
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in Opthea in the third quarter valued at $114,000. ABC Arbitrage SA purchased a new stake in shares of Opthea in the 4th quarter worth about $40,000. Citadel Advisors LLC acquired a new stake in Opthea in the 4th quarter valued at about $79,000. Hsbc Holdings PLC acquired a new position in Opthea during the fourth quarter worth about $556,000. Finally, OLD Mission Capital LLC acquired a new position in Opthea during the fourth quarter worth about $42,000. 55.95% of the stock is owned by institutional investors and hedge funds.
Opthea Company Profile
(
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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.
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