Opthea (NASDAQ:OPT) Receives “Underperform” Rating from Jefferies Financial Group

Jefferies Financial Group restated their underperform rating on shares of Opthea (NASDAQ:OPT) in a research report sent to investors on Tuesday, MarketBeat.com reports. Jefferies Financial Group currently has a $1.00 target price on the stock, down from their prior target price of $8.00.

A number of other brokerages have also recently weighed in on OPT. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. Oppenheimer cut shares of Opthea from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Opthea in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1.33.

Opthea Trading Up 7.2 %

Shares of NASDAQ:OPT opened at $3.41 on Tuesday. The stock has a fifty day moving average of $4.42 and a 200-day moving average of $4.07. Opthea has a one year low of $1.79 and a one year high of $6.30.

Hedge Funds Weigh In On Opthea

Several institutional investors and hedge funds have recently bought and sold shares of OPT. Citadel Advisors LLC purchased a new stake in Opthea in the 4th quarter worth approximately $79,000. Hsbc Holdings PLC acquired a new position in shares of Opthea in the fourth quarter worth $556,000. OLD Mission Capital LLC purchased a new stake in shares of Opthea during the fourth quarter worth $42,000. ABC Arbitrage SA acquired a new stake in Opthea during the fourth quarter valued at $40,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in Opthea during the third quarter valued at $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.