Opthea Limited Unsponsored ADR (NASDAQ:OPT) Receives $1.33 Consensus Target Price from Brokerages

Shares of Opthea Limited Unsponsored ADR (NASDAQ:OPT) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $1.3333.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opthea in a research note on Monday, November 17th.

Hedge Funds Weigh In On Opthea

A number of institutional investors and hedge funds have recently made changes to their positions in OPT. Regal Partners Ltd lifted its holdings in shares of Opthea by 78.6% during the first quarter. Regal Partners Ltd now owns 5,193,688 shares of the company’s stock valued at $17,710,000 after purchasing an additional 2,286,285 shares during the last quarter. Twin Lakes Capital Management LLC increased its position in Opthea by 67.4% during the 1st quarter. Twin Lakes Capital Management LLC now owns 33,156 shares of the company’s stock valued at $113,000 after buying an additional 13,350 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Opthea during the first quarter valued at $34,000. Finally, OLD Mission Capital LLC boosted its holdings in Opthea by 78.7% in the first quarter. OLD Mission Capital LLC now owns 19,167 shares of the company’s stock worth $65,000 after acquiring an additional 8,439 shares in the last quarter. Institutional investors own 55.95% of the company’s stock.

Opthea Stock Up 7.2%

Shares of OPT opened at $3.41 on Friday. Opthea has a 1-year low of $1.79 and a 1-year high of $6.30. The firm’s 50-day moving average price is $3.41 and its 200-day moving average price is $3.41.

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.