Opthea (NASDAQ:OPT) Upgraded to “Hold” at Zacks Investment Research

Opthea (NASDAQ:OPT – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Opthea Limited is a biotechnology company. It develops and commercializes therapies primarily for eye disease principally in Australia. Opthea Limited is based in South Yarra, Australia. “

A number of other research firms have also weighed in on OPT. Truist Financial reduced their target price on shares of Opthea from $25.00 to $13.00 in a report on Wednesday, April 13th. SVB Leerink began coverage on shares of Opthea in a report on Tuesday. They set an “outperform” rating and a $25.00 target price on the stock.

OPT opened at $5.51 on Thursday. Opthea has a fifty-two week low of $4.73 and a fifty-two week high of $16.23. The company’s 50 day moving average price is $5.83 and its two-hundred day moving average price is $6.68.

A hedge fund recently raised its stake in Opthea stock. Victory Capital Management Inc. lifted its stake in shares of Opthea Limited (NASDAQ:OPT – Get Rating) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,475,893 shares of the company’s stock after acquiring an additional 42,639 shares during the period. Victory Capital Management Inc. owned 3.36% of Opthea worth $11,821,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 13.29% of the company’s stock.

Opthea Company Profile (Get Rating)

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.

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