New Buy Entry Alert OPT
Time Frame : Daily/Weekly
Sector : Pharmaceuticals, Biotech and Life Sciences
Key Stats : $893.6 Million Market Cap, VWAP 3.46, ASX Ranking 278, 4 Week Av Turnover $2,125,395, Current Turnover Intraday $1,239,693 (2:37pm AEDT).
Company Overview : Opthea Limited (OPT) is a biotechnology company focused on development of new drugs for the treatment of eye diseases. Opthea’s lead asset, OPT – 302, is a soluble form of VEGFR-3 in clinical development as a novel therapy for wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). Wet AMD and DME are causes of blindness in the elderly and diabetic populations respectively and are increasing in prevalence worldwide.
Broker Consensus : BUY
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OPT – Opthea Limited
OPT is consolidating highs as sellers apply the pressure but can not crack the buyers. We expect to see the tide change soon as the buying interest lifts so watching for a spike higher. We are now happy to buy on a push up through 3.60 with a Stop Loss at 3.22. If price falls below 3.22 prior to entry, we will cancel the alert and re-assess the action.
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Stock Code : – OPT – Opthea Limited
Company Website : www.opthea.com
Current Price : 3.43
New Potential Buy Entry (Trigger Level) : 3.60
Potential Sell Exit Zone (Stop Loss/Cancel Level) : 3.22
Status : On watch for Buy Entry Trigger
