Opthea Limited (NASDAQ:OPT) Receives Consensus Rating of 'Hold' from Analysts

Opthea Limited (NASDAQ:OPT - Get Free Report) has recently received an average consensus rating of "Hold" from six analysts who are actively covering the company, according to reports. Out of these analysts, one has issued a sell recommendation, while four analysts have recommended holding the stock. Additionally, there is one analyst who has given a strong buy suggestion for the company. The average target price set by analysts for Opthea shares over the next year is $1.33.

Analyst Reports on Opthea

Opthea has attracted attention from various investment analysts. Notably, Leerink Partners downgraded Opthea from a "strong-buy" rating to a "hold" rating in a recent report. Jefferies Financial Group maintained an "underperform" rating, slashing the price target for Opthea shares to $1.00, down significantly from a previous target of $8.00. HC Wainwright also revised its rating, changing it from "buy" to "neutral," while lowering its price objective from $12.00 to $2.00. Conversely, Canaccord Genuity Group upgraded its stance on Opthea to a "strong-buy". On the other hand, Oppenheimer downgraded the company from an "outperform" rating to a "market perform" rating.

Institutional Holdings in Opthea

Several institutional investors have actively traded shares of Opthea in recent times. For instance, ABC Arbitrage SA acquired a new stake worth $40,000 during the fourth quarter. Similarly, OLD Mission Capital LLC and Citadel Advisors LLC made new investments in Opthea, valued at approximately $42,000 and $79,000, respectively. Twin Lakes Capital Management LLC purchased a new position valued at around $81,000, whereas Jane Street Group LLC bought in with approximately $114,000 during the same quarter. It is noteworthy that about 55.95% of Opthea's stock is held by hedge funds and institutional investors.

Opthea's Stock Performance

As of Wednesday, shares of Opthea opened at $3.41. Over the past year, the stock has experienced a low of $1.79 and a high of $6.30. The fifty-day moving average stands at $4.42, while the 200-day moving average is at $4.07.

Company Overview

Opthea Limited is a clinical-stage biopharmaceutical company based in Australia. It focuses on developing and commercializing therapies primarily aimed at treating eye diseases. Its research and development efforts are centered on a portfolio related to Vascular Endothelial Growth Factors (VEGF), including VEGF-C, VEGF-D, and VEGF Receptor-3. This work targets diseases linked with blood and lymphatic vessel growth as well as vascular leakage.

Opthea, Stocks, Analysts