Opthea Limited (NASDAQ:OPT) Receives Average Recommendation of “Hold” from Analysts

Shares of Opthea Limited (NASDAQ:OPT) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities 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. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $1.33.

OPT has been the topic of several analyst reports. HC Wainwright cut 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 raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. Oppenheimer downgraded Opthea from an “outperform” rating to a “market perform” rating in a research report on Monday. Leerink Partners cut shares of Opthea from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $12.00 to $1.00 in a research report on Tuesday. Finally, Jefferies Financial Group restated an “underperform” rating and issued a $1.00 target price (down previously from $8.00) on shares of Opthea in a report on Tuesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Opthea in the 3rd quarter worth $114,000. Twin Lakes Capital Management LLC bought a new stake in shares of Opthea in the third quarter valued at about $81,000. ABC Arbitrage SA purchased a new stake in Opthea in the fourth quarter worth about $40,000. OLD Mission Capital LLC bought a new position in Opthea during the 4th quarter worth about $42,000. Finally, Hsbc Holdings PLC purchased a new position in Opthea during the fourth quarter valued at approximately $556,000. Institutional investors own 55.95% of the company’s stock.

Opthea Price Performance

Shares of NASDAQ:OPT opened at $3.41 on Wednesday. The firm has a fifty day simple moving average of $4.42 and a two-hundred day simple moving average of $4.07. Opthea has a 52 week low of $1.79 and a 52 week high of $6.30.

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.