Opthea Limited (NASDAQ:OPT) Receives Average Rating of "Hold" from Analysts

Opthea Limited (NASDAQ:OPT - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a strong buy recommendation 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.

A number of equities analysts recently weighed in on the stock. Oppenheimer lowered shares of Opthea from an "outperform" rating to a "market perform" rating in a research report 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. HC Wainwright lowered Opthea from a "buy" rating to a "neutral" rating and dropped their price target for the company from $12.00 to $2.00 in a research note on Tuesday, March 25th. Jefferies Financial Group reissued an "underperform" rating and set a $1.00 price target (down from $8.00) on shares of Opthea in a research note on Tuesday, March 25th. Finally, Leerink Partners lowered Opthea from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $12.00 to $1.00 in a research note on Tuesday, March 25th.

Hedge Funds Weigh In On Opthea

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of Opthea in the 3rd quarter valued at approximately $114,000. Hsbc Holdings PLC bought a new stake in shares of Opthea in the 4th quarter valued at approximately $556,000. OLD Mission Capital LLC purchased a new stake in shares of Opthea in the fourth quarter valued at $42,000. ABC Arbitrage SA purchased a new stake in shares of Opthea in the fourth quarter valued at $40,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Opthea in the first quarter valued at $34,000. 55.95% of the stock is owned by institutional investors.

Opthea Price Performance

Shares of NASDAQ:OPT traded up $0.23 during midday trading on Thursday, reaching $3.41. 3,000 shares of the company were exchanged, compared to its average volume of 26,738. The business's fifty day moving average is $3.41 and its two-hundred day moving average is $3.84. Opthea has a one year low of $1.79 and a one year high of $6.30.

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.