February 14, 2020
Time Frame : Daily/Weekly
Sector : Pharmaceuticals, Biotech and Life Sciences
Key Stats : $890.91 Million Market Cap, VWAP 3.49, ASX Ranking 282, 4 Week Av Turnover $1,739,053, Current Turnover Intraday $1,610,783 (1:38pm 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
OPT is showing some strong signs that buyers are on the move as price holds nicely above the 3.20 zone. Watching now for a higher low to build and hold around 3.50 for the buy entry setup to take price up through 3.80 and on into new highs.
Stock Code : OPT – Opthea Limited
Company Website : www.opthea.com
Current Price : 3.39
Status : On watch for potential higher low and push up through 3.80
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