Brokerages Set Opthea Limited (NASDAQ:OPT) Target Price at $1.33

Opthea Limited (NASDAQ:OPT - Get Free Report) has been given a consensus recommendation of "Hold" by the six research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $1.33.

OPT has been the subject of several recent research reports. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $1.00 price objective (down previously from $8.00) on shares of Opthea in a research note on Tuesday, March 25th. Leerink Partnrs lowered shares of Opthea from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Oppenheimer lowered Opthea from an "outperform" rating to a "market perform" rating in a research report on Monday, March 24th. Leerink Partners lowered Opthea from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $12.00 to $1.00 in a research report on Tuesday, March 25th. Finally, HC Wainwright downgraded shares of Opthea from a "buy" rating to a "neutral" rating and decreased their target price for the company from $12.00 to $2.00 in a research report on Tuesday, March 25th.

Institutional Investors Weigh In On Opthea

Several institutional investors and hedge funds have recently made changes to their positions in the business. OLD Mission Capital LLC boosted its position in shares of Opthea by 78.7% during the 1st quarter. OLD Mission Capital LLC now owns 19,167 shares of the company's stock valued at $65,000 after purchasing an additional 8,439 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Opthea during the 1st quarter valued at about $34,000. ABC Arbitrage SA acquired a new position in Opthea during the 4th quarter worth approximately $40,000. Twin Lakes Capital Management LLC raised its stake in Opthea by 67.4% during the 1st quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company's stock worth $113,000 after buying an additional 13,350 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Opthea during the 4th quarter worth approximately $79,000. 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, hitting $3.41. The company's stock had a trading volume of 3,000 shares, compared to its average volume of 26,986. Opthea has a one year low of $1.79 and a one year high of $6.30. The company's fifty day simple moving average is $3.41 and its two-hundred day simple moving average is $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.