Opthea (NASDAQ:OPT) Earns Underperform Rating from Jefferies Financial Group

Jefferies Financial Group restated their underperform rating on shares of Opthea (NASDAQ:OPT) in a research note published on Tuesday morning, Marketbeat reports. Jefferies Financial Group currently has a $1.00 target price on the stock, down from their prior target price of $8.00.

A number of other brokerages have also issued reports on OPT. Oppenheimer lowered Opthea from an “outperform” rating to a “market perform” rating in a research report on Monday. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Opthea in a research note on Friday, February 28th. Finally, Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1.33.

Opthea Trading Up 7.2 %

Shares of OPT opened at $3.41 on Tuesday. The firm has a 50-day simple moving average of $4.41 and a two-hundred day simple moving average of $4.06. Opthea has a 1-year low of $1.79 and a 1-year high of $6.30.

Hedge Funds Weigh In On Opthea

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in Opthea in the third quarter valued at approximately $114,000. ABC Arbitrage SA acquired a new stake in shares of Opthea in the 4th quarter valued at $40,000. Citadel Advisors LLC purchased a new stake in shares of Opthea during the 4th quarter worth $79,000. Hsbc Holdings PLC acquired a new position in shares of Opthea during the fourth quarter worth $556,000. Finally, OLD Mission Capital LLC purchased a new position in Opthea in the fourth quarter valued at $42,000. 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.