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

Shares of Opthea Limited (NASDAQ:OPT) have been given an average rating of “Hold” by the six brokerages that are currently covering the stock, MarketBeat.com reports. One research 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 twelve-month target price among brokers that have issued a report on the stock in the last year is $1.33.

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

Opthea Stock Performance

Shares of OPT opened at $3.41 on Monday. The business’s fifty day moving average price is $3.41 and its 200 day moving average price is $3.81. Opthea has a 12-month low of $1.79 and a 12-month high of $6.30.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Regal Partners Ltd grew its holdings in Opthea by 78.6% during the 1st quarter. Regal Partners Ltd now owns 5,193,688 shares of the company’s stock worth $17,710,000 after acquiring an additional 2,286,285 shares during the period. Hsbc Holdings PLC acquired a new position in Opthea in the fourth quarter valued at about $556,000. Twin Lakes Capital Management LLC raised its position in shares of Opthea by 67.4% in the 1st quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company’s stock valued at $113,000 after acquiring an additional 13,350 shares during the period. Citadel Advisors LLC acquired a new stake in Opthea in the fourth quarter worth $79,000. Finally, OLD Mission Capital LLC raised its stake in Opthea by 78.7% during the 1st quarter. OLD Mission Capital LLC now owns 19,167 shares of the company’s stock worth $65,000 after buying an additional 8,439 shares during the period. Institutional investors and hedge funds 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.