Ophthotech Corp. (OPHT) Given Average Rating of “Buy” by Brokerages
Shares of Ophthotech Corp. (NASDAQ:OPHT) have been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the stock. One research analyst has rated the stock with a sell recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $78.00.
Several research firms have recently weighed in on OPHT. Cowen and Company set a $60.00 price target on Ophthotech Corp. and gave the stock a “buy” rating in a report on Saturday, October 1st. Zacks Investment Research upgraded Ophthotech Corp. from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Wednesday, June 15th. Citigroup Inc. boosted their price target on Ophthotech Corp. from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. BTIG Research restated a “buy” rating and set a $92.00 price target on shares of Ophthotech Corp. in a report on Monday, October 3rd. Finally, Barclays PLC restated a “buy” rating on shares of Ophthotech Corp. in a report on Tuesday, July 19th.
In other Ophthotech Corp. news, CEO David R. Guyer sold 24,060 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $64.47, for a total value of $1,551,148.20. Following the transaction, the chief executive officer now directly owns 56,451 shares of the company’s stock, valued at $3,639,395.97. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Samir Chandrakant Patel sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $64.21, for a total value of $1,284,200.00. Following the completion of the transaction, the president now directly 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 owned by company insiders.
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Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in shares of Ophthotech Corp. by 114.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,590 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 1,382 shares during the last quarter. Royal Bank of Canada raised its position in shares of Ophthotech Corp. by 108.3% in the second quarter. Royal Bank of Canada now owns 22,176 shares of the biopharmaceutical company’s stock worth $1,132,000 after buying an additional 11,531 shares during the last quarter. Lebenthal Holdings LLC raised its position in shares of Ophthotech Corp. by 0.5% in the second quarter. Lebenthal Holdings LLC now owns 8,209 shares of the biopharmaceutical company’s stock worth $419,000 after buying an additional 43 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Ophthotech Corp. by 15.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 103,009 shares of the biopharmaceutical company’s stock worth $5,257,000 after buying an additional 13,398 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of Ophthotech Corp. by 13.0% in the second quarter. Stifel Financial Corp now owns 17,906 shares of the biopharmaceutical company’s stock worth $915,000 after buying an additional 2,058 shares during the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.
Ophthotech Corp. (NASDAQ:OPHT) traded down 2.97% during mid-day trading on Wednesday, reaching $41.13. The company had a trading volume of 338,145 shares. The firm’s market capitalization is $1.46 billion. The firm’s 50-day moving average is $52.63 and its 200-day moving average is $52.26. Ophthotech Corp. has a one year low of $38.70 and a one year high of $80.00.
Ophthotech Corp. (NASDAQ:OPHT) last released its quarterly earnings results 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. The company had revenue of $28.20 million for the quarter, compared to analysts’ expectations of $18.64 million. Ophthotech Corp. had a negative return on equity of 296.63% and a negative net margin of 271.28%. On average, equities research analysts anticipate that Ophthotech Corp. will post ($4.92) earnings per share for the current fiscal year.
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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