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Gabelli assumed coverage on shares of Ophthotech Corp (NASDAQ:OPHT) in a research note issued on Friday. The firm set a “buy” rating and a $40.00 price target on the stock. Gabelli’s price target indicates a potential downside of 1.57% from the stock’s previous close.

Ophthotech Corp (NASDAQ:OPHT) opened at 40.64 on Friday. 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 $41.92 and a 200-day moving average of $36.02. The company’s market cap is $1.355 billion.

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 $-2.21 earnings per share for the current fiscal year.

A number of other firms have also recently commented on OPHT. Analysts at Goldman Sachs initiated coverage on shares of Ophthotech Corp in a research note on Friday. They set a “neutral” rating and a $44.00 price target on the stock. Separately, analysts at Leerink Swann raised their price target on shares of Ophthotech Corp from $45.00 to $61.00 in a research note on Thursday, July 17th. Finally, analysts at Oppenheimer initiated coverage on shares of Ophthotech Corp in a research note on Monday, July 7th. They set an “outperform” rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $64.00.

Ophthotech Corporation is a biopharmaceutical company specializing in the development of therapeutics to treat diseases of the eye.

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