Oppenheimer Downgrades Opthea (NASDAQ:OPT) to Market Perform

Oppenheimer cut shares of Opthea (NASDAQ:OPT) from an outperform rating to a market perform rating in a research report sent to investors on Monday, Marketbeat.com reports.

Other research analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Opthea in a research note on Friday, February 28th. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1.33.

Opthea Stock Up 7.2 %

Shares of NASDAQ:OPT opened at $3.41 on Monday. Opthea has a 1-year low of $1.79 and a 1-year high of $6.30. The firm’s 50 day simple moving average is $4.42 and its two-hundred day simple moving average is $4.07.

Hedge Funds Weigh In On Opthea

Several hedge funds have recently modified their holdings of OPT. Jane Street Group LLC bought a new stake in shares of Opthea in the third quarter worth about $114,000. Twin Lakes Capital Management LLC bought a new position in Opthea during the third quarter valued at approximately $81,000. ABC Arbitrage SA purchased a new position in Opthea during the 4th quarter valued at approximately $40,000. OLD Mission Capital LLC bought a new stake in Opthea in the 4th quarter worth approximately $42,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Opthea during the 4th quarter worth approximately $556,000. Hedge funds and other 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.