Ophthotech Corp Price Target Raised to $58.00 at Stifel Nicolaus (OPHT)
Equities researchers at Stifel Nicolaus boosted their price target on shares of Ophthotech Corp (NASDAQ:OPHT) from $55.00 to $58.00 in a research report issued on Tuesday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 84.36% from the stock’s previous close.
Separately, 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 Corp (NASDAQ:OPHT) opened at 31.46 on Tuesday. Ophthotech Corp has a 1-year low of $22.61 and a 1-year high of $42.54. The stock has a 50-day moving average of $32.27 and a 200-day moving average of $31.84. The company’s market cap is $1.049 billion.
Ophthotech Corp (NASDAQ:OPHT) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.64) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.67) by $0.03. Analysts expect that Ophthotech Corp will post $-2.98 EPS for the current fiscal year.
In other Ophthotech Corp news, major shareholder Hbm Healthcare Investments (Ca unloaded 500,000 shares of Ophthotech Corp stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $29.75, for a total value of $14,875,000.00. Following the sale, the insider now directly owns 3,139,902 shares in the company, valued at approximately $93,412,085. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Ophthotech Corporation is a biopharmaceutical company specializing in the development of therapeutics to treat diseases of the eye.
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