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Ophthotech Corp (NASDAQ:OPHT) President Samir Chandrakant Patel sold 18,986 shares of the stock on the open market in a transaction dated Friday, August 1st. The stock was sold at an average price of $37.80, for a total value of $717,670.80. Following the completion of the sale, the president now directly owns 38,627 shares in the company, valued at approximately $1,460,101. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Several analysts have recently commented on the stock. Analysts at Gabelli initiated coverage on shares of Ophthotech Corp in a research note on Friday, July 25th. They set a “buy” rating and a $40.00 price target on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Ophthotech Corp in a research note on Friday, July 25th. They set a “neutral” rating and a $44.00 price target on the stock. Finally, 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $64.00.

Shares of Ophthotech Corp (NASDAQ:OPHT) traded up 0.71% during mid-day trading on Monday, hitting $38.52. 213,511 shares of the company’s stock traded hands. Ophthotech Corp has a 52 week low of $22.61 and a 52 week high of $47.99. The stock’s 50-day moving average is $41.17 and its 200-day moving average is $36.33. The company’s market cap is $1.284 billion.

Ophthotech Corp (NASDAQ:OPHT) last released its 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 $-2.19 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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