Opthea (NASDAQ:OPT) Lowered to “Hold” Rating by Leerink Partnrs

Opthea (NASDAQ:OPT) was downgraded by stock analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

OPT has been the subject of a number of other reports. Oppenheimer cut shares of Opthea from an “outperform” rating to a “market perform” rating in a report on Monday. HC Wainwright cut shares of Opthea from a “buy” rating to a “neutral” rating and cut their price target for the stock from $12.00 to $2.00 in a report on Tuesday. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a report on Tuesday, December 17th. Jefferies Financial Group reissued an “underperform” rating and set a $1.00 target price (down from $8.00) on shares of Opthea in a research note on Tuesday. Finally, Leerink Partners downgraded Opthea from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $12.00 to $1.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. According to MarketBeat, Opthea presently has an average rating of “Hold” and a consensus price target of $1.33.

Opthea Price Performance

OPT stock opened at $3.41 on Monday. The business has a 50 day simple moving average of $4.42 and a 200-day simple moving average of $4.07. Opthea has a twelve month low of $1.79 and a twelve month high of $6.30.

Institutional Investors Weigh In On Opthea

Institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in Opthea during the fourth quarter worth $79,000. Hsbc Holdings PLC purchased a new stake in shares of Opthea in the 4th quarter worth about $556,000. OLD Mission Capital LLC purchased a new stake in shares of Opthea in the 4th quarter worth about $42,000. ABC Arbitrage SA acquired a new stake in Opthea in the 4th quarter valued at about $40,000. Finally, Twin Lakes Capital Management LLC purchased a new position in Opthea during the 3rd quarter valued at about $81,000. Institutional investors and hedge funds 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.