Opthea's (OPT) Underperform Rating Reaffirmed by Jefferies Financial Group

Opthea (NASDAQ:OPT) faced renewed scrutiny as Jefferies Financial Group reaffirmed its "underperform" rating on the company's stock in a research note released on Tuesday. They set a target price of $1.00 for the shares, indicating a potential decline of 70.67% based on the stock's previous closing price.

In addition to Jefferies' assessment, other analysis from financial institutions has varied. For instance, Canaccord Genuity Group recently upgraded Opthea to a "strong-buy" rating on December 17th. Conversely, Oppenheimer downgraded Opthea from an "outperform" to a "market perform" rating earlier this week. HC Wainwright also weighed in, maintaining a "buy" rating and assigning a price objective of $12.00 for the stock.

Opthea's Stock Performance

On Tuesday, Opthea's shares opened at $3.41. The company's stock has seen considerable fluctuations, with a 50-day simple moving average at $4.43 and a 200-day average at $4.07. Over the past year, the stock reached a low of $1.79 and a high of $6.30.

Institutional Interest in Opthea

Institutional investors have shown interest in Opthea recently, with various hedge funds making moves within the company's stock. Notably, Citadel Advisors LLC acquired a new stake valued at $79,000 during the fourth quarter. HSBC Holdings PLC also put in $556,000 to secure a new stake in Opthea, while OLD Mission Capital LLC and ABC Arbitrage SA added positions worth approximately $42,000 and $40,000, respectively. In total, institutional investors own about 55.95% of Opthea's stock.

About Opthea

Opthea Limited is a clinical stage biopharmaceutical company based in Australia, dedicated to developing and commercializing innovative therapies primarily for eye diseases. The company's research focuses on its intellectual property portfolio involving Vascular Endothelial Growth Factors (VEGF), specifically VEGF-C, VEGF-D, and VEGF Receptor-3, aiming to address conditions associated with blood and lymphatic vessel growth and vascular leakage.

Investors looking at Opthea should conduct thorough research and consider the mixed ratings from analysts. The current "underperform" rating from Jefferies might reflect broader market conditions or specific challenges faced by the company.

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