Opthea (NASDAQ:OPT) Earns Buy Rating from HC Wainwright

Opthea (NASDAQ:OPT)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $12.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 118.58% from the stock’s previous close.

Separately, Canaccord Genuity Group upgraded Opthea to a “strong-buy” rating in a research note on Tuesday, December 17th.

Opthea Stock Performance

Shares of NASDAQ OPT opened at $5.49 on Wednesday. The business has a 50-day moving average of $3.78 and a 200-day moving average of $3.54. Opthea has a fifty-two week low of $1.79 and a fifty-two week high of $5.51.

Hedge Funds Weigh In On Opthea

A number of hedge funds and other institutional investors have recently bought and sold shares of OPT. Jane Street Group LLC bought a new stake in shares of Opthea during the 3rd quarter worth approximately $114,000. Twin Lakes Capital Management LLC bought a new stake in Opthea during the third quarter worth $81,000. Finally, ABC Arbitrage SA acquired a new stake in shares of Opthea in the 4th quarter valued at $40,000. 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.