Opthea Limited (NASDAQ:OPT) Receives $1.33 Average Target Price from Brokerages

Opthea Limited (NASDAQ:OPT - Get Free Report) has received a consensus recommendation of "Hold" from the six analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $1.33.

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

Institutional Trading of Opthea

A number of hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in shares of Opthea during the fourth quarter worth approximately $79,000. Hsbc Holdings PLC acquired a new stake in shares of Opthea during the 4th quarter valued at $556,000. OLD Mission Capital LLC acquired a new stake in shares of Opthea during the 4th quarter valued at $42,000. ABC Arbitrage SA purchased a new position in shares of Opthea during the 4th quarter valued at $40,000. Finally, Twin Lakes Capital Management LLC increased its stake in shares of Opthea by 67.4% in the first quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company's stock worth $113,000 after acquiring an additional 13,350 shares during the last quarter. Hedge funds and other institutional investors own 55.95% of the company's stock.

Opthea Trading Up 7.2%

Shares of OPT traded up $0.23 during midday trading on Monday, reaching $3.41. 3,000 shares of the company were exchanged, compared to its average volume of 26,986. Opthea has a 1-year low of $1.79 and a 1-year high of $6.30. The stock has a 50-day moving average price of $3.41 and a 200-day moving average price of $3.80.

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.