Opthea (NASDAQ:OPT) Stock Rating Lowered by Leerink Partnrs

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

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group restated an “underperform” rating and issued a $1.00 price target (down from $8.00) on shares of Opthea in a research report on Tuesday. Oppenheimer downgraded shares of Opthea from an “outperform” rating to a “market perform” rating in a report on Monday. Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a report on Tuesday, December 17th. HC Wainwright downgraded shares of Opthea from a “buy” rating to a “neutral” rating and dropped their target price for the company from $12.00 to $2.00 in a report on Tuesday. Finally, Leerink Partners lowered Opthea from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $12.00 to $1.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Opthea has a consensus rating of “Hold” and an average target price of $1.33.

Opthea Stock Up 7.2 %

Shares of OPT opened at $3.41 on Monday. The firm’s fifty day moving average is $4.42 and its two-hundred day moving average is $4.07. Opthea has a 52-week low of $1.79 and a 52-week high of $6.30.

Hedge Funds 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 4th quarter worth about $79,000. Hsbc Holdings PLC purchased a new stake in Opthea during the fourth quarter worth approximately $556,000. OLD Mission Capital LLC acquired a new position in Opthea in the fourth quarter valued at approximately $42,000. ABC Arbitrage SA purchased a new position in Opthea in the fourth quarter valued at approximately $40,000. Finally, Twin Lakes Capital Management LLC acquired a new stake in Opthea during the third quarter worth approximately $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.