Opthea Limited (NASDAQ:OPT) Given Consensus Rating of "Hold" by Brokerages

Shares of Opthea Limited (NASDAQ:OPT - Get Free Report) have been assigned an average rating of "Hold" from the six brokerages that are presently covering the company, Marketbeat 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 1-year target price among analysts that have issued a report on the stock in the last year is $1.33.

A number of research analysts have recently commented on the stock. Leerink Partners cut shares of Opthea from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $12.00 to $1.00 in a report on Tuesday, March 25th. Leerink Partnrs cut shares of Opthea from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Oppenheimer cut shares of Opthea from an "outperform" rating to a "market perform" rating in a report on Monday, March 24th. Jefferies Financial Group restated an "underperform" rating and issued a $1.00 price target (down from $8.00) on shares of Opthea in a report on Tuesday, March 25th. Finally, HC Wainwright cut shares of Opthea from a "buy" rating to a "neutral" rating and cut their price target for the stock from $12.00 to $2.00 in a report on Tuesday, March 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC bought a new position in Opthea during the 1st quarter worth about $34,000. OLD Mission Capital LLC grew its holdings in Opthea by 78.7% during the 1st quarter. OLD Mission Capital LLC now owns 19,167 shares of the company's stock worth $65,000 after acquiring an additional 8,439 shares in the last quarter. Regal Partners Ltd grew its holdings in Opthea by 78.6% during the 1st quarter. Regal Partners Ltd now owns 5,193,688 shares of the company's stock worth $17,710,000 after acquiring an additional 2,286,285 shares in the last quarter. Citadel Advisors LLC bought a new position in Opthea during the 4th quarter worth about $79,000. Finally, Hsbc Holdings PLC bought a new position in Opthea during the 4th quarter worth about $556,000. 55.95% of the stock is currently owned by institutional investors.

Opthea Stock Performance

Shares of OPT remained flat at $3.41 during midday trading on Thursday. Opthea has a fifty-two week low of $1.79 and a fifty-two week high of $6.30. The stock has a 50-day moving average price of $3.39 and a 200-day moving average price of $3.85.

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.