Insider Selling: Svlsf Iv, Llc Sells 931,869 Shares of Ophthotech Corp Stock (OPHT)
Ophthotech Corp (NASDAQ:OPHT) major shareholder Svlsf Iv, Llc sold 931,869 shares of the company’s stock on the open market in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $40.99, for a total value of $38,197,310.31. Following the transaction, the insider now directly owns 119,593 shares in the company, valued at approximately $4,902,117. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Ophthotech Corp from $79.00 to $99.00 in a research note on Tuesday, May 20th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Ophthotech Corp from $40.00 to $51.00 in a research note on Tuesday, May 20th. They now have an “overweight” rating on the stock. Finally, 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, May 20th. They now have a “buy” rating on the stock.
Shares of Ophthotech Corp (NASDAQ:OPHT) traded down 1.92% during mid-day trading on Monday, hitting $39.92. 453,840 shares of the company’s stock traded hands. Ophthotech Corp has a 52-week low of $22.61 and a 52-week high of $42.54. The stock has a 50-day moving average of $33.85 and a 200-day moving average of $32.3. The company’s market cap is $1.331 billion.
Ophthotech Corp (NASDAQ:OPHT) last issued its quarterly earnings data 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 $-2.11 earnings per share for the current fiscal year.
Ophthotech Corporation is a biopharmaceutical company specializing in the development of therapeutics to treat diseases of the eye.
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