Opthea Limited (NASDAQ:OPT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Opthea Limited (NASDAQ:OPT) have been given an average rating of “Hold” by the six analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $1.33.

OPT has been the topic of a number of analyst reports. Leerink Partnrs cut Opthea from a “strong-buy” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group reaffirmed an “underperform” rating and set a $1.00 price target (down previously from $8.00) on shares of Opthea in a report on Tuesday. HC Wainwright cut shares of Opthea from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $12.00 to $2.00 in a research note on Tuesday. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, Oppenheimer cut Opthea from an “outperform” rating to a “market perform” rating in a report on Monday.

Hedge Funds Weigh In On Opthea

Several institutional investors have recently bought and sold shares of OPT. ABC Arbitrage SA purchased a new stake in Opthea in the 4th quarter worth $40,000. OLD Mission Capital LLC purchased a new stake in shares of Opthea in the fourth quarter worth about $42,000. Citadel Advisors LLC purchased a new stake in shares of Opthea in the fourth quarter worth about $79,000. Twin Lakes Capital Management LLC bought a new position in Opthea during the third quarter valued at approximately $81,000. Finally, Jane Street Group LLC purchased a new position in Opthea during the 3rd quarter valued at approximately $114,000. 55.95% of the stock is owned by hedge funds and other institutional investors.

Opthea Price Performance

Shares of OPT stock opened at $3.41 on Wednesday. Opthea has a 1 year low of $1.79 and a 1 year high of $6.30. The firm has a fifty day moving average price of $4.42 and a 200-day moving average price of $4.07.

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.