Opthea Limited (NASDAQ:OPT) Receives $1.33 Consensus Price Target from Analysts

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

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

Opthea Stock Up 7.2%

Shares of Opthea stock opened at $3.41 on Thursday. Opthea has a 12 month low of $1.79 and a 12 month high of $6.30. The business has a fifty day simple moving average of $3.41 and a 200 day simple moving average of $3.83.

Institutional Investors Weigh In On Opthea

Several institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in shares of Opthea in the first quarter valued at approximately $34,000. ABC Arbitrage SA acquired a new stake in Opthea in the 4th quarter valued at $40,000. OLD Mission Capital LLC acquired a new stake in Opthea in the 4th quarter valued at $42,000. Citadel Advisors LLC bought a new stake in Opthea during the 4th quarter worth about $79,000. Finally, Jane Street Group LLC acquired 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.

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.