Opthea Limited (NASDAQ:OPT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Opthea Limited (NASDAQ:OPT) have been assigned an average recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $1.33.

Several research firms have recently issued reports on OPT. Leerink Partners cut shares of Opthea from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $12.00 to $1.00 in a research report on Tuesday, March 25th. Leerink Partnrs cut shares of Opthea from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Oppenheimer cut shares of Opthea from an “outperform” rating to a “market perform” rating in a research note on Monday, March 24th. Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, HC Wainwright downgraded Opthea from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $12.00 to $2.00 in a research report on Tuesday, March 25th.

Opthea Price Performance

Shares of OPT opened at $3.41 on Wednesday. The business’s 50 day moving average is $4.40 and its 200 day moving average is $4.08. Opthea has a 12-month low of $1.79 and a 12-month high of $6.30.

Institutional Inflows and Outflows

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

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.