Opthea (NASDAQ:OPT) Receives “Buy” Rating from HC Wainwright

Opthea (NASDAQ:OPT)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 140.00% from the company’s current price.

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

Opthea Stock Up 4.8 %

Shares of OPT stock opened at $5.00 on Wednesday. Opthea has a 52-week low of $1.79 and a 52-week high of $5.45. The company has a 50-day simple moving average of $3.70 and a two-hundred day simple moving average of $3.52.

Hedge Funds Weigh In On Opthea

An institutional investor recently bought a new position in Opthea stock. Jane Street Group LLC bought a new position in Opthea Limited (NASDAQ:OPT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,632 shares of the company’s stock, valued at approximately $114,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.

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.