Opthea (NASDAQ:OPT) Cut to Market Perform at Leerink Partners

Leerink Partners cut shares of Opthea (NASDAQ:OPT) from an outperform rating to a market perform rating in a report published on Tuesday morning, MarketBeat reports. Leerink Partners currently has $1.00 price target on the stock, down from their prior price target of $12.00.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group reissued an “underperform” rating and set a $1.00 target price (down previously from $8.00) on shares of Opthea in a report on Tuesday. Oppenheimer lowered Opthea from an “outperform” rating to a “market perform” rating in a research note on Monday. Canaccord Genuity Group raised shares of Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Opthea in a research note on Friday, February 28th. One investment 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. According to MarketBeat, Opthea currently has an average rating of “Hold” and an average price target of $1.33.

Opthea Trading Up 7.2 %

Shares of Opthea stock opened at $3.41 on Tuesday. The business’s 50 day moving average is $4.41 and its 200-day moving average is $4.06. 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 modified their holdings of the stock. ABC Arbitrage SA bought a new position in shares of Opthea during the 4th quarter worth approximately $40,000. OLD Mission Capital LLC bought a new position in Opthea during the fourth quarter worth about $42,000. Twin Lakes Capital Management LLC purchased a new position in Opthea in the 3rd quarter valued at approximately $81,000. Citadel Advisors LLC bought a new stake in shares of Opthea during the fourth quarter valued at about $79,000. Finally, Jane Street Group LLC bought a new position in shares of Opthea in the third quarter worth $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.