Opthea's (OPT) "Underperform" Rating Reaffirmed at Jefferies Financial Group

Opthea (NASDAQ:OPT - Get Free Report)'s stock had its "underperform" rating reiterated by stock analysts at Jefferies Financial Group in a note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $1.00 target price on the stock, down from their prior target price of $8.00. Jefferies Financial Group's price objective would suggest a potential downside of 70.67% from the stock's previous close.

Several other research firms have also issued reports on OPT. Canaccord Genuity Group raised shares of Opthea to a "strong-buy" rating in a research report on Tuesday, December 17th. HC Wainwright reiterated a "buy" rating and issued a $12.00 price objective on shares of Opthea in a research report on Friday, February 28th. Finally, Oppenheimer lowered shares of Opthea from an "outperform" rating to a "market perform" rating in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $1.33.

Opthea Price Performance

NASDAQ OPT remained flat at $3.41 during trading on Tuesday. The company's fifty day moving average is $4.40 and its 200 day moving average is $4.07. Opthea has a 12-month low of $1.79 and a 12-month high of $6.30.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPT. Citadel Advisors LLC bought a new stake in Opthea during the 4th quarter worth approximately $79,000. Hsbc Holdings PLC purchased a new position in shares of Opthea in the fourth quarter worth about $556,000. OLD Mission Capital LLC bought a new position in shares of Opthea during the fourth quarter valued at about $42,000. ABC Arbitrage SA bought a new position in Opthea during the 4th quarter valued at approximately $40,000. Finally, Twin Lakes Capital Management LLC purchased a new stake in shares of Opthea in the 3rd quarter worth about $81,000. 55.95% of the stock is currently owned by hedge funds and other institutional investors.

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.