Opthea (NASDAQ:OPT) Lowered to Market Perform Rating by Leerink Partners

Opthea (NASDAQ:OPT) was downgraded by research analysts at Leerink Partners from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, Marketbeat.com reports. They presently have a $1.00 price objective on the stock, down from their previous price objective of $12.00. Leerink Partners’ price objective would indicate a potential downside of 70.67% from the company’s previous close.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. Jefferies Financial Group restated an “underperform” rating and set a $1.00 price target (down previously from $8.00) on shares of Opthea in a research note on Tuesday. Oppenheimer lowered shares of Opthea from an “outperform” rating to a “market perform” rating in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Opthea in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Opthea currently has an average rating of “Hold” and an average price target of $1.33.

Opthea Stock Up 7.2 %

Shares of Opthea stock opened at $3.41 on Tuesday. The business has a 50-day simple moving average of $4.42 and a 200 day simple moving average of $4.07. Opthea has a one year low of $1.79 and a one year high of $6.30.

Institutional Investors Weigh In On Opthea

Institutional investors have recently bought and sold shares of the stock. ABC Arbitrage SA bought a new position in Opthea during the 4th quarter valued at $40,000. OLD Mission Capital LLC purchased a new stake in shares of Opthea in the fourth quarter valued at about $42,000. Citadel Advisors LLC bought a new position in shares of Opthea during the fourth quarter valued at about $79,000. Twin Lakes Capital Management LLC bought a new position in shares of Opthea during the third quarter valued at about $81,000. Finally, Jane Street Group LLC bought a new stake in Opthea in the 3rd quarter worth about $114,000. Institutional investors own 55.95% of the company’s stock.

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.