Opthea Limited (NASDAQ:OPT) Receives $1.33 Consensus PT from Brokerages

Opthea Limited (NASDAQ:OPT) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $1.33.

OPT has been the subject of several recent analyst reports. Oppenheimer lowered shares of Opthea from an “outperform” rating to a “market perform” rating in a research note on Monday, March 24th. Leerink Partnrs lowered Opthea from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. Jefferies Financial Group restated an “underperform” rating and set a $1.00 price target (down from $8.00) on shares of Opthea in a research note on Tuesday. Finally, HC Wainwright cut shares of Opthea from a “buy” rating to a “neutral” rating and lowered their target price for the company from $12.00 to $2.00 in a report on Tuesday.

Opthea Stock Performance

Shares of OPT opened at $3.41 on Wednesday. Opthea has a one year low of $1.79 and a one year high of $6.30. The stock has a 50-day moving average of $4.40 and a 200-day moving average of $4.07.

Institutional Trading of Opthea

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ABC Arbitrage SA purchased a new position in shares of Opthea in the fourth quarter worth $40,000. OLD Mission Capital LLC bought a new stake in Opthea in the 4th quarter worth $42,000. Twin Lakes Capital Management LLC purchased a new position in shares of Opthea in the third quarter valued at about $81,000. Citadel Advisors LLC bought a new position in shares of Opthea during the fourth quarter valued at about $79,000. Finally, Jane Street Group LLC bought a new position in shares of Opthea during the third quarter valued at about $114,000. Institutional investors own 55.95% of the company’s stock.

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.