OPTHEA LIMITED (OPT)
Share Price Analysis and Chart

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OPT - OPTHEA LIMITED

FNArena Sector : Pharmaceuticals & Biotech/Lifesciences

Year End: June

GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences

Debt/EBITDA: -1.03

Index:

Opthea is an Australian healthcare company specialising in the development and commercialisation of therapies to combat eye diseases. Founded in 1984, the company listed on the ASX in 1991.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.60 26 Aug 2025	0.000 OPEN $0.60	0.000 HIGH $0.60	0 LOW $0.60

TARGET

$0.05

-91.7% downside

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FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY23 Actual	FY24 Actual	FY25 Forecast	FY26 Forecast
EPS (cps)	xxx	- 52.7	- 26.6	xxx
DPS (cps)	xxx	0.0	0.0	xxx
EPS Growth	xxx	N/A	N/A	xxx
DPS Growth	xxx	N/A	N/A	xxx
PE Ratio	xxx	N/A	N/A	xxx
Dividend Yield	xxx	N/A	N/A	xxx
Div Pay Ratio(%)	xxx	N/A	N/A	xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2025 FactSet UK Limited. All rights reserved

Title	2020	2021	2022	2023	2024	2025
EPS Basic	xxx	xxx	xxx	xxx	xxx	-20.5
DPS All	xxx	xxx	xxx	xxx	xxx	0.0
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	0.0 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	-24.9
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	-245.0 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	-651,164.00 %

EPS Basic

Negative
Growth
Slowing

DPS All

Negative
Growth
Slowing

Sales/Revenue

Negative
Growth
Slowing

Book Value Per Share

Negative
Growth
Slowing

Net Operating Cash Flow

Negative
Growth
Slowing

Net Profit Margin

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	-
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	-
Return on Assets	xxx	xxx	xxx	xxx	xxx	-136.11 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	-
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	-187.33 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	-245.0 M

Return on Capital Employed

Negative
Growth
Slowing

Return on Invested Capital

Negative
Growth
Slowing

Return on Assets

Negative
Growth
Slowing

Return on Equity

Negative
Growth
Slowing

Return on Total Capital

Negative
Growth
Slowing

Free Cash Flow ex dividends

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	377 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	0 M
Total Debt	xxx	xxx	xxx	xxx	xxx	377 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	-
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	74 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	-

Short-Term Debt

Negative
Growth
Slowing

Long Term Debt

Negative
Growth
Slowing

Total Debt

Negative
Growth
Slowing

Goodwill - Gross

Cash & Equivalents - Generic

Negative
Growth
Slowing

Price To Book Value

Negative
Growth
Slowing

Title	2020	2021	2022	2023	2024	2025
Capex	xxx	xxx	xxx	xxx	xxx	0.0 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	52.00 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	0 M
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	241 M
Research & Development	xxx	xxx	xxx	xxx	xxx	196 M
Investments - Total	xxx	xxx	xxx	xxx	xxx	0 M

Capex

Negative
Growth
Slowing

Capex % of Sales

Negative
Growth
Slowing

Cost of Goods Sold

Negative
Growth
Slowing

Selling, General & Admin. Exp & Other

Negative
Growth
Slowing

Research & Development

Negative
Growth
Slowing

Investments - Total

Negative
Growth
Slowing

Negative

Growth

Slowing

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

-1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Bell Potter	02/04/2025	5	Downgrade to Sell from Buy	$0.05	-91.67%	Bell Potter notes the failure of Opthea's two global phase 3 trials is the "absolute worst-case" outcome, forcing the company to discontinue further development of sozinibercept. While this does not automatically terminate the company's DFA agreement, the broker notes bankruptcy could provide such grounds. The broker highlights the company had US$100m cash at the end of March, which wouldn't be sufficient to repay DFA investors once vendor contracts are paid out. Target dropped to $0.05 from $1.30. Rating downgraded to Sell from Speculative Buy. FORECAST Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -26.60 cents. Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.40 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Bell Potter

02/04/2025

Downgrade to Sell from Buy

$0.05

-91.67%

Bell Potter notes the failure of Opthea's two global phase 3 trials is the "absolute worst-case" outcome, forcing the company to discontinue further development of sozinibercept.

While this does not automatically terminate the company's DFA agreement, the broker notes bankruptcy could provide such grounds.

The broker highlights the company had US$100m cash at the end of March, which wouldn't be sufficient to repay DFA investors once vendor contracts are paid out.

Target dropped to $0.05 from $1.30. Rating downgraded to Sell from Speculative Buy.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -26.60 cents.
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -0.40 cents.

Access Stockbroker Research History >

EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Canaccord Genuity	01/04/2025	1	Buy	-	-	Canaccord Genuity has placed Opthea's forecasts and Buy rating under review and provided no target price (was $1.25 on February 4). The broker notes the phase III Coast study trial (OPT-302 in combination with Eylea) failed and the company may not be able to continue as a going concern. The broker had previously assessed a 65% probability of success. FORECAST Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -13.00 cents. Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -6.00 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Canaccord Genuity

01/04/2025

Buy

Canaccord Genuity has placed Opthea's forecasts and Buy rating under review and provided no target price (was $1.25 on February 4).

The broker notes the phase III Coast study trial (OPT-302 in combination with Eylea) failed and the company may not be able to continue as a going concern.

The broker had previously assessed a 65% probability of success.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -13.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -6.00 cents.

Access Extra Coverage Research History >

OPT STOCK CHART

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4	Next Week At A Glance – 7-11 Apr 2025 Apr 04 2025 - Weekly Reports

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Dividend Yield Today On Last Actual Payout :	0.00
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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OPTHEA LIMITED (OPT)
Share Price Analysis and Chart