Opthea (NASDAQ:OPT) Downgraded to “Neutral” Rating by HC Wainwright

Opthea (NASDAQ:OPT) was downgraded by equities researchers at HC Wainwright from a “buy” rating to a “neutral” rating in a report released on Tuesday,Briefing.com Automated Import reports. They currently have a $2.00 price objective on the stock. HC Wainwright’s price target would indicate a potential downside of 41.35% from the company’s previous close.

OPT has been the subject of a number of other research reports. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $1.00 price objective (down from $8.00) on shares of Opthea in a report on Tuesday. Leerink Partners lowered shares of Opthea from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $12.00 to $1.00 in a research note on Tuesday. Finally, Oppenheimer lowered shares of Opthea from an “outperform” rating to a “market perform” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1.33.

Opthea Trading Up 7.2 %

OPT opened at $3.41 on Tuesday. The stock has a 50-day moving average of $4.43 and a 200-day moving average of $4.07. Opthea has a 52-week low of $1.79 and a 52-week high of $6.30.

Institutional Investors Weigh In On Opthea

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Opthea during the third quarter worth $114,000. Twin Lakes Capital Management LLC acquired a new stake in Opthea in the 3rd quarter worth $81,000. ABC Arbitrage SA bought a new position in shares of Opthea during the 4th quarter worth about $40,000. OLD Mission Capital LLC bought a new position in shares of Opthea during the 4th quarter worth about $42,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Opthea in the fourth quarter valued at about $556,000. 55.95% of the stock is owned by institutional investors.

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.