Ophthotech Corp. (NASDAQ:OPHT)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a research report issued on Tuesday. They currently have a $92.00 price target on the biopharmaceutical company’s stock. BTIG Research’s target price would indicate a potential upside of 57.72% from the stock’s current price.

Several other research analysts have also weighed in on OPHT. JPMorgan Chase & Co. raised Ophthotech Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $84.00 in a research report on Thursday, June 2nd. Zacks Investment Research raised Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, June 15th. Barclays PLC reissued a “buy” rating on shares of Ophthotech Corp. in a research report on Tuesday, July 19th. Citigroup Inc. lifted their price objective on Ophthotech Corp. from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. reissued a “sell” rating and issued a $45.00 price objective on shares of Ophthotech Corp. in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $87.56.

Ophthotech Corp. (NASDAQ:OPHT) traded up 0.67% during mid-day trading on Tuesday, reaching $58.72. The company had a trading volume of 163,472 shares. The stock has a 50 day moving average price of $55.13 and a 200 day moving average price of $51.36. The company’s market capitalization is $2.09 billion. Ophthotech Corp. has a one year low of $35.72 and a one year high of $80.00.

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Ophthotech Corp. (NASDAQ:OPHT) last posted its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.20. Ophthotech Corp. had a negative return on equity of 296.63% and a negative net margin of 271.28%. The firm earned $28.20 million during the quarter, compared to analyst estimates of $18.64 million. On average, equities analysts expect that Ophthotech Corp. will post ($4.89) earnings per share for the current fiscal year.

In other Ophthotech Corp. news, President Samir Chandrakant Patel sold 41,846 shares of Ophthotech Corp. stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $51.23, for a total transaction of $2,143,770.58. Following the completion of the transaction, the president now owns 174,992 shares in the company, valued at approximately $8,964,840.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David R. Guyer sold 24,060 shares of Ophthotech Corp. stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $52.12, for a total value of $1,254,007.20. Following the transaction, the chief executive officer now owns 56,451 shares of the company’s stock, valued at approximately $2,942,226.12. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Ophthotech Corp. by 11.7% in the second quarter. Vanguard Group Inc. now owns 2,211,545 shares of the biopharmaceutical company’s stock worth $112,855,000 after buying an additional 231,933 shares during the period. BlackRock Fund Advisors increased its position in Ophthotech Corp. by 16.3% in the second quarter. BlackRock Fund Advisors now owns 1,188,968 shares of the biopharmaceutical company’s stock worth $60,673,000 after buying an additional 166,961 shares during the period. State Street Corp increased its position in Ophthotech Corp. by 52.6% in the first quarter. State Street Corp now owns 1,078,837 shares of the biopharmaceutical company’s stock worth $45,601,000 after buying an additional 371,894 shares during the period. Franklin Resources Inc. increased its position in Ophthotech Corp. by 37.1% in the second quarter. Franklin Resources Inc. now owns 805,929 shares of the biopharmaceutical company’s stock worth $41,126,000 after buying an additional 218,227 shares during the period. Finally, Fiera Capital Corp bought a new position in Ophthotech Corp. during the second quarter worth about $37,890,000. Institutional investors and hedge funds own 93.73% of the company’s stock.

About Ophthotech Corp.

Ophthotech Corporation is a biopharmaceutical company. The Company specializes in the development of therapeutics to treat diseases of the back of the eye, with a focus on developing therapeutics for age-related macular degeneration (AMD). Its advanced product candidate is Fovista, which is for use in combination with anti-vascular endothelial growth factor (VEGF) drugs.

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