Oppenheimer analyst Hartaj Singh assigned a Buy rating to Opthea Limited Sponsored ADR (OPT) today and set a price target of $36.00. The company’s shares closed last Tuesday at $8.75.
According to TipRanks.com, Singh is a 4-star analyst with an average return of 13.9% and a 45.5% success rate. Singh covers the Healthcare sector, focusing on stocks such as Catabasis Pharmaceuticals, Alexion Pharmaceuticals, and Inovio Pharmaceuticals.
Currently, the analyst consensus on Opthea Limited Sponsored ADR is a Moderate Buy with an average price target of $36.00.
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Opthea Limited Sponsored ADR’s market cap is currently $369.1M and has a P/E ratio of -9.20. The company has a Price to Book ratio of 2.51.
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Opthea Ltd operates in one industry being the medical technology and healthcare. It is focused primarily on developing biological therapeutics for eye diseases. The company is developing a novel biologic therapy, OPT-302, for the treatment of eye diseases. Its products are based on the intellectual property portfolio covering Vascular Endothelial Growth Factors C and D and R3 targets. Opthea’s development activities are based on an intellectual property portfolio covering key targets Vascular Endothelial Growth Factors 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.
