Opthea (NASDAQ:OPT) Receives Buy Rating from HC Wainwright

Opthea (NASDAQ:OPT)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 140.00% from the stock’s current price.

Separately, Canaccord Genuity Group upgraded shares of Opthea to a “strong-buy” rating in a report on Tuesday, December 17th.

Opthea Stock Up 4.8 %

Shares of OPT opened at $5.00 on Wednesday. The stock’s 50-day moving average price is $3.70 and its two-hundred day moving average price is $3.52. Opthea has a 12 month low of $1.79 and a 12 month high of $5.45.

Hedge Funds Weigh In On Opthea

A hedge fund recently bought a new stake in Opthea stock. Twin Lakes Capital Management LLC bought a new stake in Opthea Limited (NASDAQ:OPT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,806 shares of the company’s stock, valued at approximately $81,000. 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.