Research Analysts’ Recent Ratings Changes for Ophthotech Corp. (OPHT)
Several brokerages have updated their recommendations and price targets on shares of Ophthotech Corp. (NASDAQ: OPHT) in the last few weeks:
- 10/5/2016 – Ophthotech Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $51.00 price target on the stock. According to Zacks, “Ophthotech is a development-stage biopharmaceutical company focused on the development of therapeutics for back-of-the-eye diseases. The company’s late-stage studies on the lead candidate in its pipeline, Fovista, for wet age-related macular degeneration (AMD) bode well for its growth. Moreover, the partnership with Novartis for the commercialization of Fovista in ex-U.S. markets represents a huge positive for Ophthotech. Fovista-related data readouts are expected over the coming months. A favorable outcome could act as catalyst for Ophthotech and form the basis for a regulatory filing in the U.S. Meanwhile, another candidate in Ophthotech’s pipeline, Zimura, is being evaluated for dry AMD. However, being a development-stage company, Ophthotech depends largely on funds generated from collaborations and milestone payments for the development of its candidates. This means that inability to secure sufficient funding could hinder its prospects.”
- 10/3/2016 – Ophthotech Corp. had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $92.00 price target on the stock.
- 10/1/2016 – Ophthotech Corp. was given a new $60.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
- 9/30/2016 – Ophthotech Corp. had its “positive” rating reaffirmed by analysts at Leerink Swann. They now have a $72.00 price target on the stock.
- 9/20/2016 – Ophthotech Corp. had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $92.00 price target on the stock.
- 9/8/2016 – Ophthotech Corp. had its price target raised by analysts at JPMorgan Chase & Co. from $81.00 to $95.00. They now have an “overweight” rating on the stock.
- 8/19/2016 – Ophthotech Corp. had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $92.00 price target on the stock.
Shares of Ophthotech Corp. (NASDAQ:OPHT) opened at 43.35 on Monday. The stock’s 50 day moving average is $53.14 and its 200 day moving average is $52.15. Ophthotech Corp. has a 1-year low of $38.70 and a 1-year high of $80.00. The firm’s market capitalization is $1.54 billion.
Ophthotech Corp. (NASDAQ:OPHT) last issued its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.85) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.20. Ophthotech Corp. had a negative net margin of 271.28% and a negative return on equity of 296.63%. The firm had revenue of $28.20 million for the quarter, compared to analyst estimates of $18.64 million. Equities analysts predict that Ophthotech Corp. will post ($4.92) earnings per share for the current year.
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In other Ophthotech Corp. news, CEO David R. Guyer sold 24,060 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $64.47, for a total transaction of $1,551,148.20. Following the sale, the chief executive officer now directly owns 56,451 shares in the company, valued at approximately $3,639,395.97. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Samir Chandrakant Patel sold 20,000 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $64.21, for a total transaction of $1,284,200.00. Following the sale, the president now owns 176,031 shares in the company, valued at $11,302,950.51. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
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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