Insider Selling: Ophthotech Corp major shareholder Sells 211,680 Shares of Stock (OPHT)
Ophthotech Corp (NASDAQ:OPHT) major shareholder Lifesciences Ii L.P. Clarus sold 211,680 shares of the company’s stock on the open market in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $45.42, for a total value of $9,614,505.60. 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 shares 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.
Ophthotech Corp (NASDAQ:OPHT) traded down 1.26% on Wednesday, hitting $43.88. The stock had a trading volume of 275,920 shares. Ophthotech Corp has a 52-week low of $22.61 and a 52-week high of $47.99. The stock has a 50-day moving average of $36.4 and a 200-day moving average of $33.56. The company’s market cap is $1.463 billion. Ophthotech Corp also was the target of a large decrease in short interest in May. As of May 30th, there was short interest totalling 1,679,936 shares, a decrease of 27.8% from the May 15th total of 2,327,392 shares. Approximately 9.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 815,564 shares, the short-interest ratio is presently 2.1 days.
Ophthotech Corp (NASDAQ:OPHT) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the 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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