Ophthotech Corp Price Target Raised to $51.00 at JPMorgan Chase & Co. (OPHT)
Investment analysts at JPMorgan Chase & Co. increased their target price on shares of Ophthotech Corp (NASDAQ:OPHT) from $40.00 to $51.00 in a note issued to investors on Tuesday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 62.11% from the company’s current price.
Ophthotech Corp (NASDAQ:OPHT) opened at 31.46 on Tuesday. Ophthotech Corp has a one year low of $22.61 and a one year high of $42.54. The stock’s 50-day moving average is $32.27 and its 200-day moving average is $31.84. The company’s market cap is $1.049 billion.
Ophthotech Corp (NASDAQ:OPHT) last announced its earnings results on Tuesday, May 13th. The company reported ($0.64) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.67) by $0.03. On average, analysts predict that Ophthotech Corp will post $-2.93 earnings per share for the current fiscal year.
In other Ophthotech Corp news, major shareholder Hbm Healthcare Investments (Ca sold 500,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $29.75, for a total value of $14,875,000.00. Following the completion of the transaction, the insider now directly owns 3,139,902 shares of the company’s stock, valued at approximately $93,412,085. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
OPHT has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus raised their price target on shares of Ophthotech Corp from $55.00 to $58.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Ophthotech Corp in a research note on Tuesday, April 22nd. They now have a $79.00 price target on the stock.
Ophthotech Corporation is a biopharmaceutical company specializing in the development of therapeutics to treat diseases of the eye.
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