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

Leerink Partnrs downgraded shares of Opthea (NASDAQ:OPT) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

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

Opthea Stock Performance

Shares of Opthea stock opened at $3.41 on Monday. The company has a fifty day simple moving average of $4.42 and a 200-day simple moving average of $4.07. Opthea has a 12-month low of $1.79 and a 12-month high of $6.30.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in Opthea during the third quarter worth about $114,000. ABC Arbitrage SA purchased a new position in shares of Opthea during the 4th quarter worth approximately $40,000. Citadel Advisors LLC purchased a new position in shares of Opthea during the 4th quarter worth approximately $79,000. Hsbc Holdings PLC acquired a new stake in shares of Opthea in the 4th quarter valued at approximately $556,000. Finally, OLD Mission Capital LLC purchased a new stake in shares of Opthea in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 55.95% of the company’s stock.

About Opthea

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.