Oppenheimer Cuts Opthea (NASDAQ:OPT) Price Target to $31.00

Opthea (NASDAQ:OPT – Get Rating) had its price target lowered by equities research analysts at Oppenheimer from $36.00 to $31.00 in a report issued on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the stock.

Other equities analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Opthea in a report on Friday, February 24th. Citigroup cut their target price on Opthea from $24.00 to $22.00 in a research note on Thursday, March 9th.

Opthea Trading Down 4.4 %

Shares of OPT opened at $4.58 on Monday. The company has a quick ratio of 4.97, a current ratio of 16.32 and a debt-to-equity ratio of 1.56. Opthea has a twelve month low of $4.40 and a twelve month high of $8.50. The firm’s 50 day moving average price is $4.97 and its two-hundred day moving average price is $5.19.

Institutional Trading of Opthea

An institutional investor recently raised its position in Opthea stock. Victory Capital Management Inc. lifted its position in Opthea Limited (NASDAQ:OPT – Get Rating) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,643,585 shares of the company’s stock after buying an additional 39,358 shares during the quarter. Victory Capital Management Inc. owned about 2.83% of Opthea worth $10,174,000 as of its most recent SEC filing. Institutional investors and hedge funds own 13.85% of the company’s stock.

Opthea Company Profile

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Opthea Limited, a clinical stage biopharmaceutical company, develops and commercializes 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.