Opthea (NASDAQ:OPT) Cut to “Neutral” at HC Wainwright

HC Wainwright cut shares of Opthea (NASDAQ:OPT) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $2.00 target price on the stock, down from their prior target price of $12.00. 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.

Several other equities research analysts also recently issued reports on the company. Leerink Partners downgraded Opthea from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $12.00 to $1.00 in a report on Tuesday. Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. Oppenheimer cut Opthea from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $1.00 target price (down previously from $8.00) on shares of Opthea in a report on Tuesday. One equities research 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. Based on data from MarketBeat.com, Opthea has an average rating of “Hold” and a consensus price target of $1.33.

Opthea Stock Performance

Shares of Opthea stock opened at $3.41 on Tuesday. Opthea has a one year low of $1.79 and a one year high of $6.30. The stock’s 50-day moving average is $4.41 and its 200 day moving average is $4.06.

Institutional Trading of Opthea

A number of hedge funds have recently bought and sold shares of OPT. Citadel Advisors LLC purchased a new stake in shares of Opthea in the 4th quarter worth $79,000. Hsbc Holdings PLC bought a new stake in Opthea in the 4th quarter valued at $556,000. OLD Mission Capital LLC purchased a new stake in shares of Opthea in the fourth quarter worth about $42,000. ABC Arbitrage SA purchased a new stake in shares of Opthea during the 4th quarter worth approximately $40,000. Finally, Twin Lakes Capital Management LLC bought a new stake in shares of Opthea in the 3rd quarter worth about $81,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.

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.